So about 20 minutes after my last post published, Indymac, the bank, failed. Expect to see more bank failure in the near future. After all, when all your depositors are insured by a government agency (this is NOT insurance, but another bailout) there is no need to be cautious about lending out the deposits. In fact, I think that FDIC insurance encourages banks to increase their risk levels and their leverage when times are good. Increasing their leverage this way also increases their returns. Then, when the banks fail the government (taxpayers) foots the bill. It's a beautiful system they have figured out. Privatize all the profits to their shareholders and then socialize the losses to everyone else.

On a side note: we are all doing well here, but I'm getting so irritated about all the bailout talk that I can't resist these posts. Sorry everyone!