C'mon people! Let's give these guys a break. They had a vision for something great and they tried their best to make it happen. Not every business succeeds, in fact almost many fail. They had the guts, the vision and the nerve to be great.
I was fired from a startup, and I was their best developer. Needless to say, they are now going down. Making the engineering team political will doom any startup.
The FDIC is bailed out by the taxpayer, so does the private banks. It's a nothing but socializing the risks, while privatizing the profits. It's immoral.
China does things right here, when it fails due to your corruption, you get executed, instead of bailed out.
If you don't trust the bank, don't put your money there. Otherwise, put your money at the Bank of the United States, backed by and owned by the full faith of the US taxpayer.
I will not bail out private money making banks via the FDIC via my tax dollar.
If you put money into a private bank, then when it fails, you should lose that money.
The East Asian economic miracle is all about the state in control of the banks (printing).
Read Quest for Prosperity -- the private/public construct of distinction is a complete myth that is exposed by the titans in Asia and Latin America. The more we stick to the myth in the US, the longer it will take for us to have the same degree of success. Innovation comes not out of motive for profit, but ou of need and desire and capability.
http://www.tusker.com/tusker-trips/eclipse-trips/archaeo/art...