FDIC: No Good Deed Goes Unpunished

The FDIC has swooped in to rescue many failed banks over the past months and has fought to keep the bank runs made on many institutions from driving the economy into a depression. However, the rate at which the banks have been failing has caused the FDIC hardships while trying to keep up. With so many failed banks and possibly more to come, the FDIC is stretching its funds, which insures a depositor if a bank fails. Their only options are to borrow from banks that are on firm foundations or look to the Treasury for help.

Putting more fees on “healthy” banks would bring in capital but with so many institutions in the banking industry falling one wonders if it’s good practice to remove the bandage from the wound that’s still in the healing process.

Bankers are in favor of helping the FDIC because if the big banks loaned the money then the small, “injured” banks would avoid another fee. These failing banks are in their present state because the loans for real estate were given to those who were reaching beyond their means. Despite past mistakes these recovering banks have made the big banks want to give them a chance to recoup; but do they deserve it?

The FDIC is now weakened by these banks who have, either out of foolishness or greed, given out loans and mortgages which the receivers would never be able to pay back all for the sake of making a few dollars at the time. The FDIC has upheld its part of the bargain. Should the banks that have failed not now be required to change their ways so that the FDIC wouldn’t be drained of assets and looking to the very banks it protects for a lending hand?

With the economy have drastically improved over the last several years it will be interesting to see if retail sales numbers continue to pick up.  Many well known retailers are hoping that Miami Gardens WalMart Presidents Day Sales 2012 numbers come in positive which could spring board the economy heading into the summer.  The stock market has been able to stay above several support levels over the last few weeks and months which could mean huge games are in store for 2012 and 2013.

Now that we are almost in February of 2012 it is true that some hard working Americans will be looking for a 2011 IRS.gov 1040 Printable Tax Form Online.  All of the forms that will be needed to file an individual income tax return are available at the IRS.gov website.  Rather than paying an accountant or a tax preparation software company it might be wise to check out the free forms on the IRS page.