Where Have I Been?

Ok, so 7 banks have failed this year alone. I missed a bank run that lasted 11 business days, had people lined up outside their bank, and the FDIC has sole possession of IndyMac's books and records.

Nuggets of information from Forbes.com about their chapter 7 filing today in Cali.
http://www.forbes.com/reuters/feeds/reuters/2008/08/01/2008-08-01T123054Z_01_BNG54289_RTRIDST_0_INDYMAC-UPDATE-3.html

"IndyMac Bancorp Inc, once one of the largest U.S. mortgage lenders, has filed for bankruptcy protection, less than three weeks after being seized by federal regulators following a bank run by depositors."

"The filing was widely expected. It does not include IndyMac Federal Bank FSB, which is run by the Federal Deposit Insurance Corp and is the successor to IndyMac's former banking unit."

All this started in July, I was watching the news in July. I don't remember Katie Couric or Brian Williams mentioning this on the evening news. I know that it was never covered by our local news stations. And I seem to have missed this segment on Sunday Morning, something about being at church, or some such.
http://www.youtube.com/watch?v=dBiIUeahURY&feature=related

So now the Fed is running a bank that failed. Heck it even has it in the name of the bank. IndyMac Federal Bank. But don't worry about the economy, everthing is just fine. I mean, former Sen. Phil Gramm of Texas has pointed out that the recession is "all in our minds" and that the economy is really doing quite well.
http://www.democrats.org/a/2008/07/dnc_web_video_m.php

But hey, if you are not convinced by Senators McCain & Gramm, just read about what the Chairman of the FDIC has to say about IndyMac...
"IndyMac was the fifth of seven U.S. banking failures this year. FDIC Chairman Sheila Bair said last week she does not expect another failure of IndyMac's size or larger."

I hate to admit it, but I agree with Glenn Beck in this clip. And just in case you don't think these 2 issues are related, ask yourself, where does the FDIC get it's reserves?
http://www.youtube.com/watch?v=aHIM0Sp5epY

Ok, I'll focus on what I am really trying to say.

During the Republican Presidential Debates, Congressman Paul repeatedly pointed out that we are in an economic slump. The Federal Reserve & Federal Government are spending our country into a very deep hole. He was dismissed & insulted for saying that we need to stop inflating the currency. His economic advisor Peter Shiff has been nicknamed Doctor Doom for saying the same things.

Historically, what is happening in the USA today is showing some simular trends as what happened in 1920's Germany. Folks this is a very bad thing. But don't worry, when your bank fails, the FDIC will be sure to help you out. They will take over running your bank and send those greedy corporate executives to jail.

For 20 points, what form of government allows for the private ownership of buinesses with "regulations by" & "partnerships with" the government? Anyone, anyone? I just hope the rest of you look as good in khaki and black shirts as I do.