On Wed, 30 Dec 2009 18:06:31 -0600, F. George McDuffee
wrote:

there was a blurb on teh news tonight about a movement to "move your money"
out of BIG banks into smaller community banks. i'm not well informed about
this but it seems like a good idea to me. "starve the cancer within us".

http://www.huffingtonpost.com/ariann..._b_406022.html

b.w.

=================
While a capital idea [pun intentional] the problem is that the
big banks can and do use the Federal "knee knockers" to "make you
an offer you cannot refuse." If you won't deposit your money
with them, they will come and take it anyhow.
-----------------
Some follow up information on GMAC/Ally Bank [and ResCap/Diatech
Funding] The U.S. Taxpayer's are now majority owners as more
TARP funds are flushed down the toilet.

http://www.ft.com/cms/s/0/d32f296c-f...nclick_check=1
US Treasury takes majority stake in GMAC
By Tom Braithwaite in Washington

Published: December 30 2009 21:39 | Last updated: December 30
2009 23:52

The US Treasury will become the majority shareholder of GMAC, the
former lending arm of General Motors, as part of a restructuring
announced on Wednesday.

GMAC is to receive $3.8bn in new government investment via the
troubled asset relief programme, the Treasury said, in the final
stage of filling a capital hole identified in the “stress tests”
on banks earlier this year. The deal brings to a close a busy end
to the year for the Treasury’s $700bn Tarp scheme, with most
elements of the bail-out programme winding down and companies
such as Bank of America and Citigroup racing to repay the
government and escape restrictions on pay and hiring.
snip

=================
As I have observed before, very important U.S. financial
information continues to be first reported in the foreign media,
and sometimes only in the foreign media. [Financial Times is a UK
publication]


Unka George

(George McDuffee)

The past is a foreign country;
they do things differently there.
L. P. Hartley (1895-1972), British author.
The Go-Between, Prologue (1953).