Actions Speak Louder Than Words

Washington Bus. Journal: ‘FDIC To Hire More Than 1,600

Wow. Government really is the only growth industry.

And it shouldn’t go without mention that the primary purpose of the FDIC is to deal with and close down floundering and failed financial institutions, paying off insured deposit claims and such from those account holders caught up in the downward spiral. Considering that, why would the FDIC need to bring 1,600 new staffers on board if, as the Obama administration insists, the recession is actually over and we’re on our way to recovery?

When we look for indications as to where this economy is going, and what the government flunkies really think, perhaps we should look at actions rather than press releases.

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Comments

  1. Anonymous says:

    This is like St Judes hiring Dr Kervorkian.

  2. Mr. Potter says:

    So far this year, 133 banks have failed and been seized by the FDIC, compared to 25 bank failures in 2008.

  3. Boston Blackie says:

    The recession is over for those 1600 new federal employees, that's all that matters to them.
    BTW – When are we going to demand an audit of the Fed Reserve????

  4. Nonsensical recognitions says:

    Bernanke, Man Of The Year…….

    That is a worse pick than Michelle was.

  5. Ian Thorpe says:

    The frightening thing is governments think hiring more public employees and paying them from the public purse actually creates wealth and boosts the economy rather than creating debt and dragging it down.

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