FDIC Opens A Massive New Office Near Chicago Just To Handle The Coming Tidal Wave Of Midwest Bank Closings They Are Expecting

http://theeconomiccollapseblog.com/archives/fdic-opens-a-massive-ne...

Is the Midwest about to see a massive wave of bank closings? That is apparently what the FDIC is expecting. The FDIC is opening up a massive new satellite office in the Chicago area that will be dedicated to managing receiverships and liquidating assets from failed Midwest banks. This new facility will occupy 7 floors in an 11 floor building. The office space that the FDIC is leasing is well over 100,000 square feet and will employ approximately 500 temporary employees and contractors. This is a huge expenditure by the FDIC. So will there really be so many bank failures over the next couple of years in the Midwest that a 100,000 square foot facility is required to deal with it?

Apparently someone at the FDIC thinks so.

But this is not the first time the FDIC has done something like this.

The FDIC has already opened similar offices in Irvine, California and Jacksonville, Florida. Each time, the number of bank failures in those states increased dramatically after the FDIC opened those facilities.

So what is going to cause such a massive wave of bank failures that the FDIC will need hundreds of new employees just to deal with it?

Well, as we have reported previously, the financial powers in the U.S. are now moving to reduce the money supply, hoard cash and tighten credit. All of those things cause a slowdown in economic growth.

At the same time, a gigantic "second wave" of adjustable mortgages is scheduled to reset starting this year. This could push the U.S. economy into "part 2" of the housing crisis. Just check out the chart below....

In fact, one new study has been released that estimates that 5 million houses and condominiums on which mortgages are now delinquent will go through foreclosure and be put on the market within the next few years.

Another devastating housing crisis would absolutely destroy the vast majority of small to mid-size banks in the United States. In such a scenario, the FDIC would definitely be able to make use of the new facilities that they are opening up around the United States.

There are even rumors that the big bankers do not intend for most small and mid-size bankers to survive the coming crisis. There are whispers that the big bankers see all of this economic turmoil as a great opportunity to "consolidate" the banking industry.

So what should you and your family do to get prepared? Get out of debt and get rid of any unnecessary expenses. Try to start developing alternate streams of income and come up with a plan for what you will do if you lose your job.

The reality is that hard times are coming and a lot of people are going to lose their homes and their jobs. Don't just blindly trust "the system" - now is the time to make sure that you and your family will be prepared even if a total economic collapse happens.

Views: 44

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

Comment by truth on February 18, 2010 at 4:18pm
Oh wow! This is not good.

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

cheeki kea commented on Sandy's photo
Thumbnail

FB_IMG_1711502430662

"( sadly ) The unvaccinated sportsman or woman has an ( unfair ) advantage on the field or water…"
36 minutes ago
cheeki kea favorited Sandy's photo
1 hour ago
cheeki kea commented on Doc Vega's blog post Was Sabotage or Terrorism used in the Collapse of the Francis Scott Key Bridge?
" Oh Wow Terrorism!/sabotage? Are you sure you want to know more prey tell. Could be a rabbit…"
1 hour ago
Less Prone commented on Doc Vega's blog post Was Sabotage or Terrorism used in the Collapse of the Francis Scott Key Bridge?
"Perfect for destroying the supply chain. It could well have been intentional."
16 hours ago
Less Prone favorited Doc Vega's blog post Was Sabotage or Terrorism used in the Collapse of the Francis Scott Key Bridge?
16 hours ago
Doc Vega posted blog posts
18 hours ago
rlionhearted_3 posted photos
21 hours ago
rlionhearted_3 favorited Doc Vega's photo
21 hours ago
tjdavis posted a video

Alabama’s Biggest Secret - Operation Paperclip 🇺🇸

In the north of Alabama is the city of Huntsville. It's here where German scientists built NASA in secrecy after World War II. Operation Paperclip is still s...
yesterday
tjdavis posted a photo
yesterday
Doc Vega commented on Doc Vega's blog post Americans You’re Being Squeezed Out!
"Cheeki kea always nice to her you chime in and you're damn right! "
yesterday
Doc Vega commented on Doc Vega's blog post Americans You’re Being Squeezed Out!
"Les Prone thanks for your support Dude! "
yesterday
Doc Vega posted a photo

The inconvenient truth

Trump spells it out!
yesterday
Sandy posted a photo
Wednesday
Less Prone favorited Doc Vega's blog post What Made the Founding Fathers of America so Brilliant?
Tuesday
Less Prone commented on Doc Vega's blog post Why didn't the Archeological World Announce Proof that Jesus Lived?
"Motives of Joe, to shit in the well by showing totally irrelevant proof?"
Tuesday
Doc Vega commented on Doc Vega's blog post Why didn't the Archeological World Announce Proof that Jesus Lived?
"Less, Motives of Wyatt or Joe? What archeologist wouldn't want proof of Jesus as part of his…"
Tuesday
Doc Vega commented on Doc Vega's blog post Why didn't the Archeological World Announce Proof that Jesus Lived?
"Less Prone, Considering Joe Rogan to be the gatekeeper of anything is just short of ridiculous the…"
Tuesday
Doc Vega posted a blog post
Tuesday
MAC posted a video

Don't Go To Hong Kong Now (Even on Connecting Flights)

Secure your privacy with Surfshark! Enter coupon code laowhy86 for an extra 3 months free at https://Surfshark.deals/laowhy86Article 23 in Hong Kong is real,...
Tuesday

© 2024   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted