Put On Your Happy Mask

The recession, we are told, is over! So singeth the chorus line of Obama munchkins. We’re out of the woods, we’re out of the dark!

So why did the FDIC close nine more banks last night?

State and federal bank regulators late Friday closed Bank USA NA of Phoenix and appointed the Federal Deposit Insurance Corp. as receiver.

This latest closure — along with eight other banks owned by parent company FBOP Corp. of Oak Park, Ill. — brings the nation’s total number of bank failures this year to 115.

U.S. Bank NA of Minneapolis, a subsidiary of U.S. Bancorp, has assumed all the deposits and essentially all of the assets of the nine banks, including Bank USA, which had two Valley branches in Scottsdale and Phoenix.

Put on a happy face. One with a tight elastic band and no eye holes. The administration is busily inventing or imagining gobs of jobs “created or saved” by government glad handing of huge sums of money it actually doesn’t have. We’re running the largest deficits in all of recorded history. Federal and state tax revenues are plummeting. Unemployment is increasing.

If we’re out of the woods now, what, exactly are we into?

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One Response to Put On Your Happy Mask

  1. ropelight says:

    One sparrow doesn’t make a Springtime. The phony numbers indicating an improved economy are only the echos of Cash for Clunkers. It’s the sound of Democrats slamming the door on America’s future.

    Car buyers saved about $4000 per car off the sticker price, something any sharp buyer could have easily negotiated without government assistance. Yet, it cost taxpayers about $24,000 per car so Democrats could point to sales figures and claim the economy is improving.

    That’s your Democrat Party in action: pay 6 times more, and call it success, just don’t look beyond the happy faces, don’t ask questions, and don’t ask why.

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