Well we saw something you don’t see everyday.  The reason for the FDIC.  It took over as New Frontier Bank closes in Greeley (in Longmont and Windsor as well).

News Crews out Front

We do have an account there and a CD.  So we have some concern, but the FDIC had a spokesman out front today to assure customers that their money is safe.  It’s interesting that the spokesman they hired was a HUGE guy.  The guy was 7 feet of nicely prepared suit.  I started to think about why they had such a huge figure representing the FDIC?  Of course!  They want to appear as big and strong as they can.  Makes sense.  Rest assured citizen, your money is safe.

You can see the huge FDIC dude on the right.

We drove by late last night on our way to get some pizza and knew something was up.  All the lights were on and there were a TON of cars around the parking lot.  This was about 10pm on a Friday night.  We also knew someone who worked pretty high up there and we were aware that this may happen but you never really expect it.

600 meeelion dollars

Turns out around $600 million dollars will be used to cover the losses of the bank.  That’s taxpayer money.

We needed to drop off some checks and other odds and ends at the bank this weekend and had planned on going to New Frontier. We ended up going to another bank as a result of it closing. We had some coin change to turn in which was an interesting journey in itself.  Their coin machine got jammed and they had to take it all apart while we stood and watched.  There was at one point 3 employees working on the change machine..lol.

Anyway, as far as New Frontier, and actually the  entire U.S. banking and financial system, we are witnessing history.  We knew a lot of customers and employees.  Family and friends banked there so its weird to see it make national news.  Something in our small backyard. Are these the Great Depression type stories we will tell our grandchildren?

The Interesting times we live in
Right click to save as MP3