The U S & Banks; A Taxpayer Shell Game, We Lose

Banks Repay Bailout Money, US Sees Profit(?)
$4Billion Reclaimed, Where does it go?

This is where you really want to pause...who really profits, and who's cookin' the books? Let's see here:

FDIC: Bank Losses Drain Fund, 2Q Loss at $3.7B, More to Come

Federal banking regulators are bracing for hundreds of small and medium-size banks to collapse in the coming months. Banks are burdened with billions of dollars of bad loans made over the last few years and are continuing to set aside more money to cover losses. In fact, credit loss rates reached a record high in the second quarter.
Over all, banks charged off $48.9 billion, or 2.55 percent of assets, nearly twice the levels the industry reported last year.

Do the math, that's pretty much a washout for the 2Q that doesn't even begin to cover the banks past & future losses.

FDIC Risks $80B in Loss Share Agreements (8/30/09)

Raft of Deals for Failed Banks Puts U.S. on Hook for Billions(WSJ)
(8/31/09)

Here's two accountings of what's really been going on...

Bank Failures and FDIC Fund Losses (8/26/09)

Failed Banks and the Deposit Insurance Fund (8/22/09)

The graph shows FDIC losses from Mar '07 - Mar '09 is $37.7Billion, with at least $3.7Billion more to date.

Call me a simpleton, but I fail to see profit as I understand it. I see huge losses, covered by John Q Taxpayer, past, present & future. Meanwhile, the Federal Reserve does whatever, with whomever it wants, without any public oversight. It is fighting public disclosure of secret bank loans tooth & nail:

Federal Reserve Board fights to keep its secrets

Never in American history has the US Gov't been so isolated & removed from the public it is supposed to serve. A governance of lies, secrecy & deception is now the order of the day. "We have seen the enemy, and he is us."

"Moreover it is required in stewards (managers, public servants), that a man be found faithful."     I Cor 4:2