Talking about “closing” banks - here is a little food for thought:

Banks Jan 1, 2009 - 8,305 total
Banks Feb 4, 2010 - 8,004 total

We have lost 301 banks in a little over a year - not just closing but probably mergers before they would be closed. A little more food for thought:

Banks 1990 - 15,158
Banks 1995 - 11,971
Banks 2000 - 9,904
Banks 2005 - 8,803
Banks Now - 8,004

Just as you lose control the FURTHER political power goes from your home, the same is true of financial control The loss of local banks, consolidating to “regional” and “national” banks has pulled the power of the economy further away from Main Street. If you are not banking with a local bank you are hurting yourselves and your neighbors - and helping Wall Street rip us all off.

- irishscot2

Related Posts:

• This is how the U.S. economy works much of the time:
• China just gave Bernanke the finger!
• Nothing has fundamentally changed on Wall St or in Washington.
• Look like 20% economy will be down within Jan. 2010.
• Advice for 2010: Capital preservation

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