johngaltfla.com / by John Galt / May 30, 2014 18:55 ET
Since we need something to spice up the old tired idea of bank failures, I present this hilarious, if not a tad raunchy video from the YouTube user “ScreenTeam” and their parody of “Sail” with “FAIL” which is oh so appropriate for the FDIC’s need to seize banks on one hand while lying and telling us the industry is healthy on the other.
And now the FDIC Press Release to entertain my readers:
FOR IMMEDIATE RELEASE
May 30, 2014
Slavie Federal Savings Bank, Bel Air, Maryland, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Bay Bank, FSB, Lutherville, Maryland, to assume all of the deposits of Slavie Federal Savings Bank.