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alstry (35.42)

Finally....Somebody Hiring

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December 15, 2009 – Comments (8)

WASHINGTON (MarketWatch) - The Federal Deposit Insurance Corp. on Tuesday agreed to nearly double the amount of capital in its 2010 budget used to deal with bank failures and plans to add more than 1,600 staffers. The agency released a $4 billion operating budget, of which $2.5 billion has been set aside to fund the takeover of failed banks. The 2009 operating budget was $2.6 billion. "It will ensure that we are prepared to handle an even larger number of bank failures next year, if that becomes necessary, and to provide regulatory oversight for an even larger number of troubled institutions," FDIC Chairman Sheila Bair said in a statement. The additional staff members will be needed to help the agency unwind failed banks. Many of the new staffers are expected to be added permanently at a later date.

OUR TAX DOLLARS AT WORK.........$4 BILLION DOLLAR OPERATING BUDGET.............

8 Comments – Post Your Own

#1) On December 15, 2009 at 12:11 PM, davejh23 (< 20) wrote:

130+ bank failures this year, and some are still expecting 1,000+ before all is said and done.  I'd say a doubling of staff is reasonable.  There are plenty of banks out there that should have been shut down by now, but the FDIC just needs to get around to it.  So, should we expect 10 additions to the failed bank list every weekend in 2010 instead of the few that we've seen most every week for the last several months?  We didn't start seeing bank failures every weekend until the Summer, correct?  So, 500+ bank failures in 2010 seems reasonable.

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#2) On December 15, 2009 at 12:19 PM, djemonk (< 20) wrote:

Companies are hiring.  Don't get distracted by focusing entirely on the news.

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#3) On December 15, 2009 at 12:53 PM, alstry (35.42) wrote:

Absolutely some companies are hiring....it is just that 5 to 10 are being fired for every hire.

Right now, we are seeing a massive number of open positions being closed by various employers around the nation in addition to large numbers of active layoffs.

As the year ends.....we are likely to see massive numbers of businesses close as access to credit evaporates and sales dry up.

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#4) On December 15, 2009 at 1:48 PM, jddubya (< 20) wrote:

9.09 & 40% UNEMPLOYMENT IS HERE!!!!!!!!!!!!!!!!!!!!!!!!!

August 31, 2009

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#5) On December 15, 2009 at 2:07 PM, alstry (35.42) wrote:

Actually it is much higher than just 40% right now factoring welfare, independent contractors, and Regan era unemployment figures as computed by respected economist John Williams.

Thanks again for confirming the obvious.....can you please locate a few more dates for support.

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#6) On December 15, 2009 at 2:19 PM, jddubya (< 20) wrote:

Yeah, how about this date:

Alstry Calling the TOP!!!!!!!!!!!!!!!!!

April 30, 2009 – Comments (20)

Right Here Right Now.......DOW about 8300

 

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#7) On December 15, 2009 at 2:20 PM, jddubya (< 20) wrote:

Or this one:

9.09 Time to Deploy the National Guard in America?

August 04, 2009

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#8) On December 15, 2009 at 2:27 PM, alstry (35.42) wrote:

As we keep laying off thousands of police officers....at what point do you think it would be appropriate for the National Guard?

Any input in this area would be appreciated.

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