CNN has just been caught red-handed playing up a staged “crisis actor” attack on Donald Trump. The crisis actor, a woman named Lauren Batchelder, was an audience plant working for Jeb Bush, the Republican establishment candidate for President. At a Jon Huntsman “No Labels” event, Batchelder posed as a regular audience member, then unleashed a vicious attack against Trump with a contrived, pre-planned verbal script that tried to smear his reputation with women.
The entire thing, however, was completely scripted from the start. “Within minutes of her scripted performance at the event, the producers of CNN were quickly editing soundbites and framing a narrative. That story was pushed into the media stream within hours,” reports TheConservativeTreehouse.com. Continue reading »
– CNN Reporter Stutters Through CIA Script — ISIS Planning Attack On America (Activist Post, April 26, 2015):
The latest ISIS report by mainstream media is in. As has been the case since 2014’s launching of the ISIS show, CNN once again has taken the lead in being the mouthpiece of Intelligence to spread lies and deceit to the American people to set them up for a future terror event. Now we’re told ISIS is supposedly here in the United States.
The way that FBI and other Intelligence agencies know this is because they overheard some “chatter” somewhere. Everything else about the new ISIS threat revelation is a secret that you apparently do not need to know because the government agencies are “not” willing to be more specific about anything at this time. Also, someone whose identity is NOT known has asked the Intelligence agencies and the reporters like CNN’s Evan Perez to “NOT” reveal too much about this ISIS threat. Continue reading »
Wow, what a perfect timing for CNN to come up with this story!
This is NOT idiocy, just evil, … pure evil.
Here’s how this will probably end for those students who believe this:
– Peak Idiocy: CNN Urges Students Not To Pay Down Student Loans, Buy Stocks Instead (ZeroHedge, Dec 12, 2014):
You know the Central-Bank-driven wealth-creation narrative has gone too far when… CNN Money – the bastion of personal financial advice introduces us to Mohammad Majd, graduate who opines “I changed my entire philosophy on debt. I started making minimum payments on my student loans, picked up a “Stock Investing for Dummies” book, and put whatever extra money I made into the stock market.” It’s great any muppet can win… “It was a really good feeling knowing that I could wipe away my entire student loan debt with just a few mouse clicks.” This is how broken the market (and the mindset) has become…
– Over At CNN, Even America’s Seals Have Had It With “Obama” (ZeroHedge, Nov 8, 2014):
After last week’s midterm elections, the revulsion against 6 years of failed Obama policies, if only for the economy not so much for the S&P500, was plain for all to see (and no, Friday’s seasonally adjusted jobs report “proving” just how well the economy is doing isn’t grounds for a recount). However, little did we know how far anger at Obama has spread, because just when we thought CNN couldn’t get any better… it did.
According to the following CNN banner, it wasn’t Osama who is the topic of the latest “Who killed Whom” navy seal scandal. It was the president of the US.
– Venezuela Revokes CNN Journalist Credentials Amid “War Propaganda” (ZeroHedge, Feb 21, 2014):
“The CNN team was informed that their correspondent credentials were revoked,” Venezuela’s Information Ministry vice-president Francisco Perez stated. Ironically, for CNN, the decision was announced vis Perez’ Twitter account, following Maduro’s proclamations last night that “Enough! I won’t accept war propaganda against Venezuela.” Interestingly, given the opposition’s need to raise the awareness among the ‘poor’ in Venezuela if they are to succeed, local television networks have provided almost no live coverage of the protests against Maduro. While just one “journalist” has his credentials revoked, Maduro has threatened, to expel the whole network from the country if it did not “rectify” the way it has covered deadly political protests. Continue reading »
– Gov’t Report: CNN, Huffington Post listed as ‘external stakeholders’ in NRC, alongside nuclear industry and pro-nuclear blogs — Both outlets help NRC to increase online influence, as CNN produces pro-nuclear infomercial (ENENews, Dec 16, 2013):
Independent Evaluation of NRC’s Use and Security of Social Media, Office of the Inspector General, Jan. 2013: Continue reading »
– Jon Stewart’s Ongoing Vendetta Against CNN (ZeroHedge, MAy 12, 2013):
That CNN’s news coverage has been nothing but comedy-(and cringe-)worthy for the past several years, should not be news to anyone by now: perhaps there is no better testament to a society in which a network that breaks news based on fake twitter rumors is still held in high regard. However, in the spirit of reverse psychology memes, does the fact that Jon Stewart is now constantly poking fun at CNN’s “news-slaughter”, mean that it may be, paradoxically, time to start taking CNN – “the most busted name in news” seriously again? (… that’s obviously rhetorical).When CNN reports via satellite uplink from the same parking lot, funny things happen:
CNN the press arm of the Pentagon.
And don’t miss to watch the entire video down below!
– CNN Article Bashes the Growing Number of People That Question Mass Media (Vigilant Citizen, Nov 5, 2012):
In the past year or so, we’ve seen several mass media outlets “reporting” on the popularity of conspiracy theories and of alternative news. However, in every case, the resulting article is not an objective report on a growing phenomenon but an all-out hit piece, bashing those who dare questioning the “official story” dictated by mass media with strong words and specific labels.
A recent article published on CNN entitled Still ‘paranoid’ after all these years does a great job at equating all those who use critical thinking before guzzling down the toxic drink that is mass media with all kinds of crazy. The word “paranoid” is used about ten times in the article as well as the words “panic”, “wingnut”, “lunatic”, “dupes”, “derangement”, “irrational”, “extremism”, “idiot”, “fearful” and “insecurity”.
– 3 Time Emmy Award Winning CNN Journalist: Mainstream Media Takes Money from FOREIGN Dictators to Run Flattering Propaganda (ZeroHedge, Sep 30, 2012):
If you’ve been paying attention, you know that the American media act as presstitutes for rich and powerful Americans.
But it turns out that the American media will turn “tricks” for foreign johns as well …
Specifically, three time Emmy award winning reporter Amber Lyon was until very recently a respected CNN reporter:
Lyon was fired from CNN after she refused to stop reporting on her first-hand experience of the systematic torture and murder of peaceful protesters by the government of Bahrain.
Lyon’s special report on Bahrain was scheduled to run on both CNN’s U.S. and international networks, but was pulled after only a limited showing due to pressure from the Bahrainis and their lobbyists.
At the same time that Lyon was risking her life to do on-the-ground reporting in Bahrain, another CNN journalist was filming a paid propaganda piece on how the Bahraini leaders are a bunch of friendly pro-democracy reformers.
That’s right … the Bahraini government paid CNN to do what was literally an infomercial for that brutal regime and pretend it was real journalism.
Lyon says that China and many other foreign, authoritarian regimes also pay CNN and other mainstream networks to run flattering propaganda pieces.
We are grateful for Ms. Lyon’s exposé of this revolting practice … especially because real reporting is treated as terrorism by the American government.
– Delusional reality: Everything peddled by politicians, media, banks and television is a fiction (Natural News, Sep 6, 2012):
The “War on Terror” is a complete fabrication. There is no terrorism other than what the government creates in order to sell its agenda of a police state takeover. Click here to read Paul Craig Roberts’ article that lays this out in brilliant detail.
The CDC’s war on West Nile virus is also a complete fabrication. There is no real West Nile virus threat. (Read article here.) The odds of being killed by West Nile are, much like with “terrorism,” even lower than the odds of being killed by a bee sting.
The “economic recovery” of America is a fairy tale. Over the last few days, the federal debt reached a jaw-dropping $16 trillion — nearly $5 trillion of that debt has been incurred under one person: President Obama. Unemployment is at record highs. Half the population is on federal aid of one form or another. Food stamp costs have skyrocketed.
“Obamacare” is a fiasco. Dubbed the “Affordable Care Act,” in reality health insurance costs have vastly increased after the passage of this ill-conceived law.
Bin Laden wasn’t killed by U.S. Navy Seals. The war is a fake. The news is faked. The media is completely, utterly faked, running totally fictional stories. CNN is actually an elaborate theater operation, faking sets, locations, sound effects and everything else you can imagine. Don’t believe me? Watch this totally faked CNN broadcast from the Gulf War, featuring “journalist” Charles Jaco:
The whole thing is so hilarious it’s almost an SNL skit! At one point, a fake air raid siren sounds off, indicating a biological weapons attack (total fear mongering on CNN), and one of the guests in the fake studio frantically straps on a HELMET! Yeah, because helmets are the defense of choice against biological attacks, it seems. See if you can actually watch this CNN video and not laugh out loud…
Newspapers run fake news like “organic foods are no healthier than conventional foods.” (http://www.naturalnews.com/037065_organic_foods_mainstream_media_psyo…)
The FBI plans and carries out fake terror plots all across the USA (http://www.naturalnews.com/034325_FBI_entrapment_terror_plots.html).
Tags: AIDS, Banking, Barack Obama, Cancer, CDC, CNN, Corporate Media, Debt, Dictatorship, Economy, Environment, Fascism, FBI, FDA, Food, Fraud, Global News, Government, Health, Healthcare, HIV, Journalism, Military, New World Order, Obama administration, Paul Craig Roberts, Police State, Politics, Rating, Science, Society, Terrorism, Terrorists, TV, U.S., Virus, War on Terror, West Nile
– CNN ratings drop 20 percent again (RT, Aug 2, 2012):
Entertainers advise to always leave the stage on a high note. Just days after CNN President Jim Walton announced his departure from the network, though, the latest ratings suggest he never got the memo. CNN’s numbers are once again plummeting fast.
For the month of July 2012, CNN’s viewership was only around one-fifth of what they saw just a year earlier. Media Bistro has published the latest numbers for the cable news network, and across the board the station shows signs of struggling, even after some serious revamping in recent months.
Compared with statistics for July 2011, total viewership for CNN has sunk 20 percent, and in other categories the figures are ever worse. Among 24-54 year olds, CNN is seeing a drop of 23 percent this year, with the same decline in ratings down for its primetime broadcast. In terms of how often same age group tunes in during primetime hours, CNN’s statistics are down 26 percent from last year.
Walton, a 30-year veteran of CNN, announced last Friday that he’d be leaving the station after manning its helm for the last decade. Continue reading »
– Heads Of Mossad And Shin Bet May Have Leaked Plans For Attack On Iran, PM Netanyahu Orders An Investigation (Guardian, Nov. 3, 2011):
… the main suspects are the former heads of the Mossad and the Shin Bet, respectively Israel’s foreign and domestic intelligence agencies.Netanyahu is said to believe that the two, Meir Dagan and Yuval Diskin, wanted to torpedo plans being drawn up by him and Ehud Barak, the defence minister, to hit Iranian nuclear sites.
In January the recently retired Dagan, a hawk when he was running the Mossad, called an attack on Iran “the stupidest idea I’ve ever heard“.
– Israeli Military Chief: Iran Won’t Develop Nuclear Weapons (Antiwar, April 24, 2012):
Adding to the hope that the constant threats of war are empty ones, Israeli military chief Lt. Gen. Benny Gantz today expressed confidence of a diplomatic solution with Iran, adding that he didn’t think Iran would attempt to develop nuclear weapons.
The comments, made in a high profile interview with Israeli newspaper Haaretz on the occasion of Israeli Independence Day, also include an admonishment to avoid “hysteria” about Iran’s program. This probably won’t sit well with the nation’s civilian leadership, which is constantly claiming Iran is “close” to nuclear weapons capability.
The interview in the Israeli press was in stark contrast to Prime Minister Benjamin Netanyahu’s interview with US media outlet CNN, in which he insisted that there were no questions about Iran’s nuclear weapons program and that the international sanctions had “better work soon.”
Dana Bash (born Dana Ruth Schwartz June 15, 1971) is a Jewish-American reporter and anchorwoman for CNN who currently covers the Capitol Hill beat alongside Jessica Yellin and her husband John King. Previous to this assignment, she was a White House correspondent for the network.
America needs this money at home:
Israel–United States relations are an important factor in the United States government’s overall policy in the Middle East, and Congress has placed considerable importance on the maintenance of a close and supportive relationship. The main expression of Congressional support for Israel has been foreign aid. Since 1985, it has provided nearly $3 billion in grants annually to Israel, with Israel being the largest annual recipient of American aid from 1976 to 2004 and the largest cumulative recipient of aid since World War II. Congress has monitored the aid issue closely along with other issues in bilateral relations, and its concerns have affected Administration’s policies. Almost all U.S. aid to Israel is now in the form of military assistance, while in the past it also received significant economic assistance. Strong congressional support for Israel has resulted in Israel’s receiving benefits not available to other countries.
Compare Barack Obama …
– President Obama: ‘I’m proud that even in these difficult times we’ve fought for and secured the most funding for Israel in history’ – ‘I am proud to say that no US administration has done more in support of Israel’s security than ours. None. Don’t let anyone else tell you otherwise. It is a fact.’
… to Ron Paul …
YouTube Added: 02.01.2012
CNN Correspondant says she is worried Ron Paul’s candidacy will continue. CNN, John King Live, Jan. 2, 2012
These are your ‘alternatives’:
CNN fired Rick Sanchez for telling the truth about Jews running and controlling the corporate/mass media.
CNN just made Rick Sanchez’s Point!!!
Jews not only run the media.
Here is Benjamin Netanyahu on record:
Elite criminals run the show and the people suffer everywhere because of it.
This planet could be paradise. We have the knowledge and the technology to turn the entire Sahara desert into a Garden of Eden within 5 years.
There is more than enough for everybody, but We The People allow these criminals to run the show.
UPDATE: Rick Sanchez has been fired from CNN.
“Rick Sanchez is no longer with the company. We thank Rick for his years of service and we wish him well,’ a CNN statement said.
UPDATE: Rick Sanchez did not appear on Friday’s “Rick List,” the afternoon after his controversial comments about Jon Stewart and Jews surfaced. Sanchez’s regular substitute Brooke Baldwin filled in for him.
ORIGINAL POST: CNN’s Rick Sanchez made controversial comments on a Sirius radio show Thursday, calling Jon Stewart a “bigot” and saying that CNN and the other networks are all run by Jewish people.
Discussing Stewart with radio host Pete Dominick, Sanchez said that the “Daily Show” host has a limited worldview, and called him a “bigot.”
The conversation began with Sanchez decrying “elite, Northeast establishment liberals” who “deep down, when they look at a guy like me, they see a guy automatically who belongs in the second tier, and not the top tier.
“I think to some extent Jon Stewart and [Stephen] Colbert are the same way. I think Jon Stewart’s a bigot,” he said. “I think he looks at the world through, his mom, who was a school teacher, and his dad, who was a physicist or something like that. Great, I’m so happy that he grew up in a suburban middle class New Jersey home with everything you could ever imagine.”
When asked who Stewart is bigoted against, Sanchez said “everybody else who’s not like him.”
Sanchez would eventually retract the “bigot” claim, settling instead on calling Stewart “prejudicial” and “uninformed.”
But he made a larger point when Dominick suggested that Stewart could understand being part of an oppressed minority group because he is Jewish.
Sanchez scoffed at the claim, snickering and suggesting that CNN and the rest of the media is run by Jewish people (from the “Stand Up with Pete Dominick” blog):
Very powerless people… [snickers] He’s such a minority, I mean, you know [sarcastically]… Please, what are you kidding? … I’m telling you that everybody who runs CNN is a lot like Stewart, and a lot of people who run all the other networks are a lot like Stewart, and to imply that somehow they — the people in this country who are Jewish — are an oppressed minority? Yeah. [sarcastically]
Listen to Sanchez call Stewart a “bigot”:
Listen to Sanchez talk about Stewart, Jews and the media:
First Posted: 10- 1-10 10:53 AM | Updated: 10- 1-10 06:09 PM
Source: The Huffington Post
See also: CNN Senior Editor Fired For A Tweet
Journalists are being fired for saying what they think while politicians on the Left and Right are being allowed to get away without being questioned
Freedom of speech may be part of the United States Constitution but perhaps the First Amendment that enshrines it could do with a caveat or two being added.
Congress may make no law “abridging the freedom of speech, or of the press”, the Bill of Rights lays down. That still holds true but, increasingly, speaking freely can get you fired or tarred for life.
Even more ominously, the internet and the increased ease of free communication is allowing the cannier politicians to escape scrutiny rather than be held to account.
Ironically, it is the mainstream media itself that is on the attack against press freedom. Last week, Octavia Nasr, a Lebanese Christian who was CNN’s Senior Editor for Arab Affairs, was summarily fired after 20 years for tweeting that she was “sad” about the death of Sheikh Mohammed Hussein Fadlallah, describing him as “one of Hezbollah’s giants I respect a lot”.
We can debate the wisdom of that statement and question whether respect was what Fadlallah, who praised Palestinian “martyrdom operations” and was acclaimed as the spiritual leader of a group whose hands are drenched in blood, really deserved.
But Hezbollah is part of the Lebanese government and Nasr’s sentiments are shared by millions in the Middle East. Her opinion was considerably milder than the gushing praise for Fadlallah from the British ambassador to Lebanon. Firing her for expressing it was boneheaded and killed any chance of intelligent discussion.
Dave Weigel, a Washington Post blogger, has also found himself out of a job after his colourful venting about conservatives in a private email group was maliciously leaked. Now, even the private opinions of journalists are grounds for dismissal? Reporters have to blog and tweet and show edge and attitude and be controversial – except when it becomes uncomfortable.
General Stanley McChrystal, a legendary Special Forces officer and the man who President Barack Obama had chosen to win the war in Afghanistan, is now spending his time on long walks in Virginia’s Shenandoah Valley.
Why? Because of the idiotic utterances of some of his junior aides when they got stuck in Paris within earshot of a Rolling Stone reporter who wanted to make a name for himself. Continue reading »
And AIPAC obviously not only owns the US government:
– Former Assistant Secretary of the Treasury Paul Craig Roberts: ‘AIPAC Owns The US Puppet Government’
– CNN Senior Editor Fired For A Tweet (TIME):
Sometimes people seem to forget that Twitter is Twitter.
Octavia Nasr, Senior Editor of Mideast Affairs, has decided to leave CNN after a “conversation” with higher ups at the company. Why? Because she expressed sorrow, via a Tweet, about the death of Sayyed Mohammad Hussein Fadlallah, who many consider to be affiliated with terrorism.
Since she made the July 4th Tweet, outrage has ensued, prompting an apology and an explanation from Nasr, who explained that what she respected was Fadlallah’s stance on women’s rights in the Middle East. Though she didn’t say she regretted the sentiment, she does regret tweeting “such a simplistic comment.”
Seems that wasn’t enough for critics and CNN. (via the Village Voice)
– CNN: The Cowardly News Network (Huffington Post)
– CNN: The Cowardly News Network (Huffington Post)
– Octavia Nasr fired by CNN over tweet praising late ayatollah (The Guardian):
Internal memo said Twitter tribute to Hezbollah’s spiritual leader had compromised senior Middle East editor’s credibility
A CNN veteran of 20 years, Octavia Nasr called her tweet about Ayatollah Mohammed Hussein Fadlallah ‘an error of judgment’. (CNN)
Twitter, with its strict 140-character limit, was never going to be the best medium to make a nuanced point about Middle East politics. But Octavia Nasr gave it a go.
The cost was great: Nasr was fired as CNN’s senior Middle East editor after 20 years with the US-based news channel.
The offending tweet was sent on Sunday morning following the death in Beirut of Grand Ayatollah Mohammed Hussein Fadlallah, who was instrumental in the establishment of Hezbollah in Lebanon. Using her official CNN Twitter account Nasr wrote: “Sad to hear of the passing of Sayyed Mohammad Hussein Fadlallah. One of Hezbollah’s giants I respect a lot.”
The tweet was immediately picked up by supporters of Israel, to which the Islamist group is bitterly opposed. The Simon Wiesenthal Center in the US released a statement demanding Nasr “apologise to all victims of Hezbollah terrorism whose loved ones don’t share her sadness over the passing of one of Hezbollah’s giants”.
The text was swiftly removed from her Twitter feed, but by then it had been heavily circulated, with criticism mounting.
Nasr responded on Tuesday with a blog on the CNN website, calling her initial message “simplistic” and “an error of judgment”. Her respect for the ayatollah, who she had interviewed for Lebanese television in 1990, was owing to his stance on women’s rights, notably his demands that “honour killings” stop, she explained.
But this was not enough. The next day, Nasr was reportedly called in to see her bosses at CNN’s headquarters in Atlanta. The New York Times quoted an internal memo from a senior vice-president, Parisa Khosravi, which said: “We have decided that [Nasr] will be leaving the company.”
The memo added: “At this point, we believe that her credibility in her position as senior editor for Middle Eastern affairs has been compromised going forward.” Continue reading »
Nogovitsyn: Mercenaries working for Georgians may disguise themselves as Russians
Deputy Chief of the Russian General Staff Anatoly Nogovitsyn warns that Georgia may be planning to commit false flag terror attacks by using mercenaries dressed in Russian uniforms, as Russia moved to guard sensitive infrastructure against terrorist attacks.
A warplane drops bombs near the Georgian city of Gori on Friday as Russian and Georgian forces battled.
TBLISI, Georgia (CNN) — Bombs rocked Tbilisi early Saturday morning as the fight between Georgia and Russia over a breakaway region intensified and moved into the Georgian capital.
Government buildings, including the Parliament, were evacuated when the bombs fell.
Georgia’s ambassador to the United Nations, Irakali Alasania, said during a special session of the Security Council that the foreign minister had informed him of bombs falling on the Black Sea port of Poti and the Viziani airfield near Tbilisi.
Georgian television reported that the port had been destroyed.
Russia and Georgia, a former Soviet state, are fighting over the disputed Caucasus region of South Ossetia, a pro-Russian autonomous region of Georgia.
Added: July 30, 2008
Added: July 30, 2008
Tags: Bush administration, CNN, Congress, Debt, Depression, Dollar, Economy, Fed, Federal Reserve, fiat money, Gas, Gas prices, George Bush, Germany, Glenn Beck, Gold, Government, Great Depression, Inflation, Politics, U.S.
The TSA’s “no fly” terrorism watch list contains between 400,000 and 1,000,000 names. If you’re on the list by mistake, good luck getting off of it.
After having begun a series of investigative stories criticizing the Transportation Security Administration (TSA) in May 2008, CNN reporter Drew Griffin reports being placed with more than a million other names on TSA’s swollen terrorism watch list.
Although TSA insists Griffin’s name is not on the list and pooh-poohs any possibility of retaliation for Griffin’s negative reporting, the reporter has been hassled by various airlines on 11 flights since May. The airlines insist that Griffin’s name is on the list.
Congress has asked TSA to look into the tribulations of this prominent passenger.
WASHINGTON (CNN) — The United States tortures prisoners in violation of international law, former President Carter said Wednesday.
“I don’t think it. I know it,” Carter told CNN’s Wolf Blitzer.
“Our country for the first time in my life time has abandoned the basic principle of human rights,” Carter said. “We’ve said that the Geneva Conventions do not apply to those people in Abu Ghraib prison and Guantanamo, and we’ve said we can torture prisoners and deprive them of an accusation of a crime to which they are accused.”
Carter also said President Bush creates his own definition of human rights.
Carter’s comments come on the heels of an October 4 article in The New York Times disclosing the existence of secret Justice Department memorandums supporting the use of “harsh interrogation techniques.” These include “head-slapping, simulated drowning and frigid temperatures,” according to the Times. Continue reading »
(CNN puplished this article (check the title with google) but has it entirely rewritten just a few minutes ago. – The Infinite Unknown)
YANGON, Myanmar (CNN) — Myanmar’s cyclone survivors have insufficient fuel to burn the rotting corpses of the dead as the ruling military junta is accused of being too slow in letting aid groups into the country.
Relief agencies say decomposing corpses litter ditches and fields in the worst-hit Irrawaddy delta area as survivors try to conserve fuel for transporting much-needed supplies.
The international community is growing increasingly frustrated with the junta’s lack of progress in granting visas for relief workers and giving clearance for aid flights to land.
They are concerned the lack of medical supplies and clean food and water threatens to increase the already staggering death toll. Continue reading »
NEW YORK (CNN) — President Bush’s assurances that we’ll all be “just fine” if he and Congress can work out an economic stimulus package seem a little hollow this morning.Much like Federal Reserve Board Chairman Ben Bernanke’s assurances last May that the subprime mortgage meltdown would be contained and not affect the broader economy. And it seems Treasury Secretary Henry Paulson has spent most of the past year trying to influence Chinese economic policy rather than setting the direction of U.S. economic policy.
There is no question that Bush, House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid will quickly come up with an economic stimulus package simply because they can no longer ignore our economic and financial crisis. That economic stimulus plan will amount to about 1 percent of our nation’s gross domestic product, an estimated $150 billion.
But all of us should recognize that the stimulus package will be inadequate to drive sustainable growth in our $13 trillion economy. An emergency Fed rate cut and an economic stimulus plan are short-term responses to our complex economic problems, nothing more than bandages for a hemorrhaging economy.
I really enjoyed reading this article, although I think TheOnion.com would be much better suited publisher.Here are some excerpts:
Banking experts say there is one thing that will save your money if your bank goes under. That’s FDIC insurance. “It’s the gold standard,” says banking consultant Bert Ely. “The FDIC has ample resources. It’s never been an issue,” he says.
As loan delinquencies rise, and bank failures increase, the FDIC is shoring up its reserves.
That’s fascinating, because last I checked (about five minutes ago), the FDIC had in its assets about 1.2% of the deposits it claims to “insure”.
If your bank bites the dust, there’s nothing to fear according to the FDIC. A healthier banking institution normally buys the failed bank according to Barr. “There is little or no interruption to the consumer,” he says. “If you go to bed one night as a customer of a bank, and you wake up as a customer of a new bank, there is nothing you have to do.” Your checks will still clear, you can still use your ATM card.
See? Bank failure isn’t even a bad thing!
Posted by Chris Brunner at February 29, 2008 11:16 AMSource: lewrockwell.com