BernieHund: The Political Watchdog

According to Nightly Business Report on PBS, the “banks in trouble” watchlist has grown by almost 30% since the IndyMac failure and seems to still be growing. Additionally, it was reported that domestic deposits for the past quarter shrunk by some $40 Billion Dollars.

The FDIC chairman has indicated that the costs to banks for the FDIC insurance will probably be going up. The IndyMac failure has cost the FDIC approximately $8 Billion Dollars.

The crisis isn’t over. In fact, according to most analysts on the Nightly Business Report we can expect more bank failures in the next couple of years. The cost of those collective failures could soar into the hundreds of billions of dollars.

And, John McCain thinks our economy is stable. Um….