09/05/2015

05.09 BREAKING NEWS: North Korea Claims to have Tested SLBM

by John Galt May 09 2015 08:05 ET In what can only be declared a provocative move if verified, the North Korean government claims to have launched a Submarine Launched Ballistic Missile (SLBM) which can only be classified as a first strike weapon to be paired with it’s nuclear warhead inventory. The South Korean government is properly alarmed but no comment has been issued by the United States as of 8 a.m. ET this morning. The full story from the South Korea’s Yonhap News: N. Korea test-fires underwater ballistic missile: KCNA…


Bank Failure Fridays Return: FDIC Closes Edgebrook Bank of Chicago

by John Galt May 09 2015 07:45 ET Thank goodness it’s a recovery or the FDIC might actually have to do some honest accounting and close all of the insolvent moneychangers. From the FDIC website: Republic Bank of Chicago, Oak Brook, Illinois, Assumes All of the Deposits of Edgebrook Bank, Chicago, Illinois FOR IMMEDIATE RELEASE May 8, 2015 Edgebrook Bank, Chicago, Illinois, was closed today by the Illinois Department of Financial & Professional Regulation – Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the…


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