NINE BANK FAILURES in One DAY.....Green shoots by butt

[Sourdough]

Nine banks went broke yesterday, and were taken over by the Bankrupt FDIC. Green shoots everywhere. Recession is over, well.....the first leg of it is over, maybe.......Monday MIGHT be interesting, maybe.....but Fridays employment report will for sure be interesting.

[doug1980]

I'm not very smart on things about economics, so what does all that mean? What exactly is the FDIC and what does it do? What sort of impact does banks going bankrupt have on the large scale economy? What does it all mean?

[Sourdough]

I only post that kind of stuff, because it drives Rick Crazy.

[doug1980]

:) Well yeah, that it does. I really don't know what it means though.