The FDIC wants the public to think it's targeting "problem" banks, but more and more stories are cropping up where they are targeting sound, profitable community banks. Perhaps they are going on the theory that where there's one cockroach there's alot more you don't see - but this logic is 100% false.
The FDIC condoned the free-for-all during the housing boom. Once they were caught with their pants down they overreacted. They are shuttering solid community banks that took a hit from commercial loans during the housing boom, even though they were always or have returned to profitability. This Cover Your Ass tactic may benefit the bureaucrats and politicians, but they're hiding how much damage this is doing to our communities.
Gotta wonder how many of those failed and troubled banks were caught up in this net. Perhaps FDIC Exposer will look into that.
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