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Another Bank Failure – How Many More on the Horizon?
The Fed closed down Ameribank a 102-year-old West Virginia bank on Friday. Ameribank, founded in January 1906 and had $102 million in deposits and assets of $115 million as of June 30 of this year. What is interesting that in 1999 Ameribank assumed $135 million of one of the largest bank failures of the 1990s, First National Bank of Keystone.
The Wall Street That Stole ChristmasHistory has proven that “power corrupts and absolute power corrupts absolutely.” While many understand this concept with respect to political systems, it is also true in other areas of human activity. Absolute power over anything is a corrupting influence that casts its pall over religion, economics, news, education, economics and most other aspects of society.