April 2017

$1 Billion Dollar hit to FDIC over First NBC Bank Closure

by John Galt April 28, 2017 23:20 ET Welcome back to FDIC Bank Failure Fridays! Tonight’s failure will cost taxpayers, er, the FDIC Deposit Insurance Fund over $996 million dollars which means this is no small hit. Here is the full press release and get ready for a larger wave of bank failures as we move into the second half of 2017: Whitney Bank, Gulfport, Mississippi, Assumes All Transactional Deposit Accounts of First NBC Bank, New Orleans, Louisiana FDIC to Mail Checks to Holders of Time Deposit Accounts, Including IRAs and…

I am Taking a Hiatus and I Hope My Readers Will Understand

by John Galt April 9, 2017 00:30 ET As my loyal readers may have noticed, I have not had much to said other than random Tweets and comments on various news blogs since last Tuesday. Rarely if ever do I reveal my personal life to my audience or my friends other than what happened a few weeks ago with my lifelong friend Bobby and the death of his son. Now I personally have to deal with an issue that was unforeseen as many in our nation have:  a relative with cancer….

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