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Jim’s Daily Rant. The Kiss Of Death By A Lipsticked Pig.

Jim Costa

The FDIC just kissed the four bug US Banks with a death kiss.



They are saying the banks are in serious trouble and have until July 1, 2025 to get their business healthy. That’s like the emergency room doctor saying the critically injured patient has a year to get healthy before the hospital will step in and do something. This is crazy.


Then let me remind you that the FDIC, the private insurance company that will reimburse you for your lost money in in a bank account, only has about 2% cash holdings to cover all the accounts they insure.


Also remember that the US Government is not required to backstop FDIC if they get into trouble. In fact, recall three years ago a law was passed so banks can do a “Bail In” and steal all customers funds in order to save the bank.


So when a pig all dressed up and wearing lipstick gives those too big to fail banks a loving kiss off for another 12 months, it is indeed the kiss of death, especially when their off book derivatives AAA rated bets begin to default!


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