Bank Bailouts to Continue

Here's a pretty good commentary from the Wall Street Journal. The tax payer continues to back up banks and certain well-heeled customers. Why? The thing to remember is that this is one of so many such arrangements between the federal government and banks...and big business...and some citizens vs other citizens...and...

It's got to stop somewhere, no?!!

U.S. banks now hold close to $1.5 trillion in TAG deposits. These are non-interest-bearing accounts, typically owned by businesses, well-heeled individuals and local governments. Whereas regular coverage from the Federal Deposit Insurance Corporation now guarantees up to $250,000, TAG accounts enjoy unlimited protection from the FDIC.

You can read the rest of the article by clicking HERE.