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Thursday, March 19, 2009

Bad Bank, Nasty bank, Profitable Bank!

From the almost too stupid to believe category!

The FDIC has criticized a Massachusetts bank which has made no bad loans for being to cautious.

The bank, East Bridgewater Savings Bank was chastised for neither "lending enough" nor "promoting it’s loan products" enough.

We are in the middle of a world wide financial shit storm and the FDIC is complaining because a bank took too little risk, what the hell is going on at the FDIC is there acid in the water cooler, a full moon, air born rabies, infectious stupidity?

Has the FDIC forgotten that its already stepped in to cover the deposits of 17 failed banks so far this year? It's only March people!!!!

Rather than complain about this bank they should be offering their management new jobs at the treasury or giving them custodial control of AIG, or Citi

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