World looks to Canada for model economy

[oladub]

So many banks have gone bankrupt in the last year or two that the FDIC ran out of money. In an attempt to fund the FDIC, banks have been required to pay three years worth of contributions to the FDIC in advance. What happens if banks keep going out of business isn't explained. Banks, in turn, have cut interest rates paid to lenders which explains part of the miserably low interest rates. Retirees, and other savers, have taken a hit. While the federal government is having problems with banks, North Dakota is thriving with it's banking system and has it's own State version of FDIC. It is working spendidly for North Dakota. I brought it up thinking that we do not have to just look at Canada. We have our own success story. North Dakota's bank is socialist but totally Constitutional. The FDIC, which normally works pretty good when not under pressure, could also be looked at as socialist. That part is a draw. The Federal Reserve, on the other hand, is more a corporatist tool than anything found in North Dakota.

[rb336]

But so much more can be done by the states and better. Canada has done a much better job than our federal government has as has North Dakota which doesn't even participate in the FDIC from what I could make of that link.

that ND bank is a state-wned bank. different animal. OUR govt can't do as good a job simply because it is, both rep and dem, bought and paid for by the monied elites who seriously want to create a two-tier class system in this country, and are succeeding