The Bank Bonanza
It’s amazing how the banks are failing now-a-days. 60 minutes had a special on the failing banks and how quickly the FDIC comes in like a thief in the night to rescue these impotent institutions.
What shocked me the most is how little the public knows about how the banking system works. The purposeful culturally driven cluelessness of where money comes from is astonishing. People once they heard their bank was closing formed lines outside with suitcases in hopes to withdraw thier funds. The FDIC placed a front man outside to inform people that a run on the bank was not necessary and their funds were safe, which it was.
Most people are oblivious to how the banking system works. If they were informed, they would surely overthrough it. Most people never ask the questions. The just sit back and obey. That’s how we got in this financial mess to begin with.
I thought I’d end this with a banks we can all appreciate: