The US government has seized control two ginormous mortgage banks, Fannie Mae and Freddie Mac in what’s being called its biggest bailout ever. Meanwhile, a bank that John McCain’s son was on the board of (until recently) has gone down. That’s right my friends: banks are failing. This is the 11th federally insured (FDIC) bank to go down in flames this year, as oppsed to 3 in all of last year and according to CNN, “[...F]ederal banking officials have said that more banks are in danger of collapse.” Are you paying attention?
And the FDIC is bringing back retirees, staffing up and hiring an outside firm to help them with all the new work they expect to be having.
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