You Think I Make This Up

Minnesota, despite being flyover country, is honeycombed with incompetent, greedy, pathetic middle aged men posing as bankers. They have no skills, they have no talents, they only wish to "make the deal" no matter how previously-condemned to default and bankruptcy the deal is so they can skim their commission off the top. They then drive German-made cars and large SUV's as they pose as "successful businessmen" whilst behind closed doors beg for a taxpayer bailout like a bum with a cup in their hands. This is not "sour grapes." This is not "revenge." This is just the truth, people, and the future will bear me out (besides which I've had my revenge already).




Now I've said it before, and I'll say it again, Minnesota IS going to be one of the worst states in terms of bank closures and you will see it have its disproportionate share of bank failures compared to other states, adjusting for population. The primary cause is the likes of Riverview Community Bank, which was recently shut down by the Feds. "Community Banks" you must understand are these small town, local "community" banks that are basically the bottom of the barrel when it comes to the hierarchy of banks. While the likes of TCF and Wells Fargo were shooting down questionable real estate deals, there was no shortage of these second rate loser banks to sop up the deals and finance them while they played "imaginary real banker."

What's worse is that there are SCORES of these wanna-be-banks with wanna-be-bankers who financed "multi-million dollar real estate deals" so their impotent, inept middle aged bankers could say to naive 20 something girls, "Why I just finished signing off on a multi-million dollar real estate deal. I'm a multi-million dollar real estate banker!" (Little did the 20 something girls know they probably had a higher net worth as a waitress than these guys did with with their home equity line financed German car and overleveraged house.) Regardless, with so many of these petty, small time faux banks eating up the bad deals larger, more legitimate banks passed up on, you are going to see an increase in the number of Minnesota community banks come begging for a bailout.

But! Don't worry. Everything is going to be fine! The FDIC now assures us that they have the money to ensure our deposits at these Minnesota banks! (ht to Kate)



Of course never mind borrowing $500 billion would put the Federal government WAY over its debt limit already. And never mind we're already in the whole for $1.4 trillion this year anyway. The reason you should never mind is because Barack Obama is president and he's going to take care of everything.

Now you know why I installed my own wood burning stove and enjoy foraging for wood.