Posts Tagged ‘Florida’

“UnReasonable Doubt”

Child murderer George Zimmerman was acquitted in Florida!

A jury of six women — five white — exonerated George Zimmerman after the self-professed neighborhood watchman pursued Trayvon Martin through the hood and shot him!

The case was closely observed. Whites and blacks, mothers and fathers, liberals and conservatives, the legal community, pundits, gun violence advocates, and those opposed to guns anxiously awaited the outcome. The country was deeply divided.

Not Guilty? Really?

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Posted in Court, Florida, Guns, NRA | Comments Off

“The Ugly States of the Union”

Each year we get an assessment of the nation’s health.

That comes from the President in the State of the Union address delivered to the whole nation in front of both houses of Congress. And, whether you like it or not, it’s the President’s view of how we’re doing as a nation.

And, though our nation is slowly recovering from the worst financial crisis since the Great Depression, there are some big problems in this country that we, as a nation, need to address.

These huge problems are originating at the state level.

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Posted in Politics, Republicans, States, UnAmerican | Comments Off

“Exposing Real Voter Fraud”

This new article has been published on The Huffington Post. Click on the link to read it there.

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Voter fraud has accelerated throughout the U.S. and must be stopped.

Voter fraud is a problem in as many as 33 states and people are demanding action to save our democracy.

It’s a malignancy that must be eradicated before it metastasizes to all 50 states, an unstoppable force that threatens to infect our electoral process — threatens to undermine our Constitution and freedoms.

How did it ever get this bad?

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Posted in Election 2012, HuffPost Articles, Politics, UnAmerican, Voting | 1 Comment »

“Georgia’s Banks Continue To Fail”

Unbelievably, two more banks fail in Georgia!

On Friday, five more banks failed and were taken over bringing the year’s total to 38 closures by the FDIC.

The five closed last Friday brought July’s total to seven equalling June’s total. This is only the second time in 2012 that five banks were seized in a single week.

But the big news was the loss of two more Georgia banks, the seventh and eighth this year and the 83rd failure in Georgia since the crisis began in 2008.

Georgia’s the worst, but others are not far behind.

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Posted in Economy, FDIC Foreclosures | Comments Off

“Unemployment Down In All States”

Year-over-year change in unemployment impressive.

In the month of May unemployment remained unchanged at 8.2% but there is some great news in the Bureau of Labor Statistics report for May.

Only three states, Nevada, California, and Rhode Island are still in double digits in the unemployment rate compared with nine states just one year ago.  And thirty-four of the states are now under the national average.

Good news, right?

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Posted in Economy, Jobs | Comments Off

“Bank Foreclosures Take A Holiday!”

Until Friday there had been no foreclosures in over a month.

On Friday the FDIC closed three banks, the first to be closed in 2012.

Notably, the three banks seized on Friday included number 75 in Georgia and number 54 in Florida. The First State Bank in Georgia cost the Deposit Insurance Fund $216 million. The cost of the other two were of little significance comparatively.

The year ended with the loss of 92 banks, less than each of the previous two years. Since the crisis began in January, 2008, 417 banks have fallen including the three new ones on Friday.

But the question is, as we start a new year of foreclosures, how many banks can Georgia and Florida lose before it becomes an extreme crisis in each state? How much money should be poured into these failed banking systems from the Fund, and eventually taxpayers, before the bleeding is stopped.

Another question is where would we be if there were no FDIC; a government created safety net established by the Glass Steagall Act in 1933? The legislation separated the banks into two types — commercial banks (safe depositories) and investment banks (risk elevated) which protected the banking system and responsible Americans for more than 68 years.

The third question — why haven’t any of these shady bank executives gone to prison?

These are questions the American people should be asking.

Maybe the time has come to Occupy the FDIC?

I’m just saying.

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Posted in FDIC Foreclosures | Comments Off

“More Georgia Banks Succumb”

Two more Georgia banks failed on Friday!

With the failure of the 72nd and 73rd banks since the banking crisis began Georgia’s banking system remains extremely vulnerable.

Florida lost another bank, the 12th this year and number 52 since the crisis began. Florida remains 2nd to Georgia in bank foreclosures.

A total of 406 U.S. banks have been taken over by the FDIC, and the four lost last week cost the DIF nearly $360 million.

But, the problem brewing in Europe may far exceed our crisis here in the United States.

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Posted in Economy, FDIC Foreclosures | Comments Off

“Georgia Loses 67th Bank”

Two more Georgia banks failed last Friday!

Since banking crisis began in January of 2008, the FDIC has taken over 377 banks.

Besides the two Georgia banks closed on Friday, the FDIC shuttered another bank in Florida and one in Arizona, the 55th bank closed this year. The two banks were the 15th and 16th closed in Georgia this year and the 67th since the crisis began.

The cost to the Deposit Insurance Fund this week was only $129.3 million which isn’t too bad, but every week the Fund gets hit depletes it.

Losing seven banks, compared to last year’s losses, doesn’t seem to bad. The improvement is welcome bu, seven in the first two weeks of July is just short of the losses for May and June.

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“Bank Foreclosures On the Rise!”

Foreclosures have been benign for the last two months.

On Friday the FDIC took over three more banks including another in Illinois. Two banks were also closed in Colorado bringing the 2011 total to 51.

In May and June only 9 banks were taken over by the FDIC.

But during that time Georgia lost four more banks, the 10th through the 13th this year and 65 since the crisis began. Florida also lost two, its 5th and 6th of the year and 51st since January of 2008.

The two months only cost the Deposit Insurance Fund $523.5 million which was great news compared to the weekly numbers over the last few years.

So, is the increase in July a sign that things are reversing? The three banks seized on Friday will cost the DIF $590.4 million—we’re back to half-a-billion dollars again. More than the total of the previous two months.

Despite the two good months, banks are still in jeopardy given the fragility of the economy and the markets. A downturn in the markets, increased unemployment, problems in China or Europe, or more devastating natural disasters could have an adverse effect on the banking system.

So banks are still something we should watch and be concerned about.

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Posted in Economy, FDIC Foreclosures | Comments Off

“Bank Foreclosures Accelerate”

Without fanfare five more banks fail and are seized by the FDIC.

Georgia and Florida are again ravaged by the FDIC on a Friday afternoon. They each lost two banks, Georgia their 60th and 61st and Florida, the 48th and 49th.

The FDIC, through April, has closed 39 banks, ten of them in the Peach State. Georgia leads the nation in bank failures, a result of lax regulation and capital requirements.

Florida, number two in lost banks since the crisis began, has lost only 4 this year attributed to poor lending practices and over-leveraged balance sheets.

The Wall Street Journal continues to track bank failures since the beginning of the crisis in 2008, tracking all 361 failures.

The FDIC had to pay $643 million from the Deposit Insurance Fund (DIF) for the five banks closed on Friday, the 29th. Over $400 million for the two Georgia banks and $245 million for the other three banks in Florida and Michigan.

Georgia has cost the DIF $875 million this year. By comparison, Silverton Bank in Atlanta, closed by the FDIC on May 1 of 2009, cost the fund approximately $1.3 billion so Georgia banks have taken their toll on the Fund.

Adding to Alabama’s recent catastrophe, two Birmingham banks were closed by the FDIC just two weeks before the devastation of the tornadoes. Both were relatively large banks, costing the DIF $435 million.

April ended with only 13 banks failing, much better than the 23 that were taken over in the same month last year. But, only eight were closed in April, 2009.

The acceleration in the second half of the month is disconcerting. Eleven were closed on the last two Fridays of the month, excluding Good Friday.

Tomorrow will be the first Friday of May which will give us an indication of the continued acceleration or a slow down.

This is a development that we need to continue to watch.

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Posted in Economy, FDIC Foreclosures | 2 Comments »