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FDIC: More Bad Banking Decisions In Effect
Tuesday, September 29th, 2009 @ 10:46 am | We Think
You may not have heard but the Federal Deposit Insurance Corporation, (FDIC) is facing financial ruin. This is the corporation that insures your money, up to $250,000 at whatever banking company you have an account with that much money.
You may want to read this article about how the so-called financial experts are once again making banking business decisions that prove they are better at making shoes than they are at making money.
There’s a fable called, “The Richest Man In Babylon”. The point of the fable is if you wish to have a lot of money do not take advice from someone who does not specialize in making money; ask the man who has a lot of money because he has expertise in successfully managing financial matters how you can get a lot of money, too.
Today, in the 21st Century the current crop of financiers has turned that fable upside down. You would be wise not to ask any of them how to earn a lot of money. They seem to be the ones who make choices that have them asking the public for more cash to subsidize their ventures. If you wish to learn how to steal money, rather than earn it, if you wish to become a thief or you wish to learn how to spend money needlessly, the guys on today’s Wall Street are the champion experts in that area.
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