➡ The number of banks facing issues is increasing, according to the FDIC. There are currently 68 banks considered problematic, an increase of two from the previous count. These banks are rated using a system called the camel rating, with one being the best and five being the worst. Despite the increase, the FDIC assures that this is within the normal range and not a cause for concern.
➡ Many business owners are struggling to sell their businesses due to a lack of potential buyers with sufficient funds. Additionally, the housing market is experiencing difficulties, with high prices and financial constraints causing people to get creative with financing. This is seen as a sign of an economic downturn. Despite these challenges, there are still ways to sell properties and businesses through creative financing and private investors.
➡ Some wealthy people are choosing to spend their money on experiences, like expensive cruises, instead of leaving it to their children. Meanwhile, Disneyland in California has agreed to pay $233 million in back wages due to a labor lawsuit. There are also concerns about troubled banks and the impact of commercial real estate on their stability.

Hey, it’s Dan. Welcome back. This is I, Allegedly, and I’ve got a good one for you today because the number of problem banks is growing according to the FDIC. So we’re going to cover this today in great detail and a lot of other business news. But don’t forget to like the video, subscribe to the channel, and today we will sponsor Patriot Gold, and I will talk about them in a bit. Now, first things first, guys, the problem banks were announced, the story was announced by Reuters, that there is a list of problem banks and the bank that have problems went up by two, which is not a big deal.

There’s 68 banks, but the FDIC does not release this. Now, I reached out to the FDIC. I called them today. I got emails from them today. Very, very professional, very, very gracious. I truly appreciate everything that they communicated with me. But a few things that is concerning, and that is, the first thing is that of these banks, think about this. How do you find out if your bank’s in the list? Well, you can call and ask about an individual bank, but they will not send out the list of all 68 banks.

Now, they wanted to let me know that there’s a camel rating, and I’ll explain that in a minute, and the camel ratings went up. The number of banks that are considered in trouble or questionable or having problems, problem banks, is up by two right now, and it’s 68 banks across the country. And they rate banks with a camel rating of one to five, five being the worst. There are two more banks that hit the four to five level right now, but they wanted to let me know, and again, they’re very gracious about this, and I truly appreciate the FDIC’s time and the phone call and everything that we had.

It was great. Okay, the number of problem banks are within the range of normal. They say it’s only one to two percent of all the banks that are out there, so 68 banks is one to two percent. Okay, and the assets for the problem banks increased by four billion dollars to a total of 87 billion dollars. Now, there’s your clue right there, guys. These are the smaller banks out there that are considered trouble banks. The bank in Oklahoma that went down recently was a small bank that had just over a billion dollars in assets, and this is what we are focused on right now, because I think you’re going to see more bank mergers that are going to come out in the next, you know, six months.

It’s going to be miraculous. It’s going to be like Albertson’s and Kroger in that sense, but you’re going to see more and more of that come out, but I want to go back to this. Let’s talk about the camels rating when it comes to the banks. Think about this. They have these acronyms that stand for several different things, and camels is great. Capital adequacy, asset quality, management, earnings for the bank, liquidity for the bank, and sensitivity to market risk. Now, if somebody’s into commercial real estate right now, they’re probably more susceptible to having problems than someone that’s doing, you know, home loans or something like that.

The other thing is you’re seeing asset problems right now. Commercial real estate clearly is the biggest problem. Small business lending is up there. You’ve got people that are into certain segments of the population where industries are in trouble right now. Freight, shipping, they’re not doing well right now. When you have shipping companies, they’re going bankrupt. During the holiday season is a very, very, very bad sign as far as how things are, but again, they rate these banks one to five. One is the best and five is the worst. Of these 68 banks, if you’re a number four or five, then you’re on that problem list.

Now, they were very gracious. They said, listen, Dan, we’re not sending out the list. We don’t send out the individual list, but they wanted to let me know that, you know, it’s within range. They’re not concerned about this. I’m concerned about it. I know you’re concerned about it. If you had deposits in a bank, you want to make sure that the FDIC is going to be there if there’s a problem with this. We have a global finance problem right now where the economies around the world are not doing well in every single country.

And here in the United States, the big problem is small businesses suffering like we’ve never seen before. But a few things that they sent out, they sent out the press release and the statement from the chairman of the FDIC. They sent me that and that’s below, but they also sent me the video of his statement and cut right to where he talked about the problem banks, which I really appreciate this. So take a look at this. The number of banks on the problem bank list, which encompasses banks that have a camels composite rating of four or five, increased by two institutions this quarter to 68 banks.

The number of problem banks was within the normal range for non-crisis periods of one to two percent of all banks. Total assets held by problem institutions increased four billion to 87 billion during the quarter. Now, from banking insiders, people I know that work at banks, there are banks that are having problems right now. But the big problem, the canary in the coal mine for the banks, are the commercial real estate loans. You’re seeing so many of these banks that cannot refinance these places, that you have everything from apartment buildings to office buildings that people cannot get loans for right now.

They don’t have the tendency to pay for that. They don’t have the money because of the increase in expense with these loans. A lot of these loans were written in two-year and five-year notes that get called up and have to be refinanced. And now they just can’t do it because interest rates are so high and they keep kicking the can down the road. The problem with this, when it comes to the refinance, is they just can’t. You have all these office buildings that just, man, it is just a ghost town at a lot of these places.

You know, the government, they made a contract with a lot of these government workers that they don’t have to come back to the office for five years. Imagine that. I mean, this is crazy. The office of Doge, the Vivek Ramaswamy and Elon Musk, Department of Government, expenditures and everything that they’re cutting back on, they say that right now they could save $2 trillion by just cutting out waste. And we’ll see if that happens. We’ll see what happens with this. But one thing that is going to be interesting is I’m telling you guys, look at credit unions, look at having multiple bank accounts.

We’ve talked about this for three years now. It is wise to have your money in multiple locations. It really is. And you only keep money in the account. It’s absolutely necessary. I’m telling you, there are billions of dollars out there at risk right now where people have more than $250,000 in an account, think that they’re protected and in fact they’re not. So protect yourself. If you’re concerned about your bank, you can call the FDIC and contact them. They’re going to love that. But again, they’re very gracious. They’re very nice. And you can click on a number and it’ll tell you if your bank’s a problem or not.

So more to come. Let’s talk about our sponsor, Patriot Gold Group. Think about this, guys. Billionaires have made so much money over the last five years. 43% of all billionaires said that they want to be in real assets, meaning gold. They’re stepping up the amount of gold that they’re purchasing right now. And Bank of America just recently stepped forward and Bank of America is calling gold to go to $3,000 an ounce in 2025. You don’t want to miss out on this. The best place to call is Patriot Gold Group, 888-330-1431, number one rated for eight years in a row now.

Contact them today before it’s too late. But think about this. I love Patriot Gold Group. Customer service is fantastic. I’m not just a spokesman. I am a client of theirs. And when you think about a place to buy all types of precious metals, the best place is Patriot Gold Group. Contact them today. They have IRAs, 401ks that are backed by precious metals. They will answer all your questions. Call them today, 888-330-1431. Buying gold is very easy and the best place to do it is Patriot Gold Group. Contact them today. One thing I get a kick out of is when I get stories sent to me about how boomers have a problem.

They can’t retire. Boomers have a problem. They can’t sell their businesses. Guys, I’m telling you this right now. There is a way out of everything. And it’s a way to get cash when banks won’t lend it to you. There’s assets that you have and ways to unload those to the right people. But I’m telling you this right now. The big problem right now is people that are trying to sell their businesses realize that they don’t have an adequate amount of people that have cash right now that they’re saved. Think about this. A lot of young people just live for the moment.

They have not saved money. When it comes to buying a business, oh my gosh, you want half a million dollars down? I don’t have that. And they can’t borrow it. They have no assets and no collateral and nothing to support that. So people that are trying to sell businesses are having a real difficult time retiring right now because their idiot nephew and son that work there can’t help them out and be a responsible owner. They might as well just shut the place down. There was a great Chinese restaurant in Orange, California that blew me away.

A guy had built this place up, put his kids through medical school. When it came time to retire, he went to his kids. And they’re like, we want nothing to do with the restaurant. So the place shuttered and nothing happened to it. Just went out of business. And I’m like, gosh, you could have sold to an employee. You could have talked to your customer base, all these different people that they could have possibly sold the house to. Now, sold the business too. The next one is house sales. Here’s the thing about houses right now.

A lot of people have these financial handcuffs where they’re talking about how they have such great interest rate on their loans that they can’t go get a new loan. Well, if you’re in your 70s and you’re worried about the financing, you have a bigger problem with this. If it’s not just a straight transaction. So people that need to unload their houses, there’s a thousand ways to do that. And what you’re seeing is you’re seeing more and more people get creative with the financing right now, which is the sign of an economic downturn as far as I’m concerned.

A lot of real estate agents that I know that are professionals in investing and owning property have said, when you start to see these things happen, that’s where the turn’s going to start. And the first one is free rent. When you see deals for free rent out there, which we’re seeing right now, where you can go out and you can negotiate, I want to give you $50 for a deposit. I saw a sign recently in Orange County where it was, come rent here, $50 deposit. I’m like, wow, that is nothing. It’s free.

So then you just got to start paying the rent. Now, when you also see rent here, get one month free, things like that, that’s the sign of a real estate downturn. The other thing is owner will carry financing. When the housing prices are high, which they’re incredibly high right now, especially here in California, you’re starting to see people that will offer their own financing. I’m telling you guys, it’s a great way to buy a house. I have a friend of mine who’s trying to buy a house right now, and three kids inherited the house, and we’ve just done a dozen different plans to buy this house.

And the kids are going back and forth on which one they want. And again, do a five-year note, something like that, that that can make it so you can get in the house and then refinance the place later on. You can always do that. Now, the problem that you have right now is the economy is tough right now. Interest rates are going to stay high. If they drop rates a quarter of a point this month, is that really going to do anything? I don’t think so. The house I looked at two months ago that I could not get insurance for.

That’s why I did not make an out from the house. The house fell out of escrow for about $200,000 more than the people should have paid for. And again, these problems are going to persist. They’re going to get worse, but there are ways to get out of properties. I’m telling you this. I have a friend of mine who helps people get creative financing for businesses, and he’s great at it. And we recently put together financing for somebody to buy a farm, and he’s in all these different manufacturing things. And again, one time I mentioned that my brother wanted to buy a factory in the industry that he was in, and he constantly said, hey, does your brother want that money or not? And again, when you have somebody skilled to take something over, there’s ways to get money through private parties, through investors, everything.

But I just don’t believe that it’s the end of the world, and people can’t get out of their house. And I’m telling you, you can get out of your house right now. There’s a lot of different places and ways to sell those houses. Plus, you’ve got all those idiots that do Airbnb that are buying properties left and right still that are stupid, as far as I’m concerned, because I would never Airbnb anything. I would never do that. I would never rent a house that way, and I just would rather go to a hotel and deal with that than deal with the shenanigans of a $2,500 cleaning deposit on something.

Here is something that I don’t think I would buy for a dollar. And that is an unlimited pass on Frontier Airlines. Again, I had the worst experience on Frontier, even worse on Spirit, and then I had American Airlines that sucked big time, and then it was topped by United Airlines. So again, the only good airlines I know of is JSX. But anyways, with that being said, you can buy the Go Wild pass at Frontier Airlines for the first 5,000 people, and it’s $299, and it’s unlimited airfare for a year. Now, you want to bring luggage? Oh, that’s going to cost you.

You want to have a laptop? That’s going to cost you. Everything’s going to cost you. You want to buy a water? That’s $6. I mean, come on, everything is insane on these. But if this interests you, I know a friend of mine who’s very good with airfare and air travel, and she loves Spirit. She loves Frontier. She thinks he’s the greatest airline in the world. You just have to know how to do it. You have to know how to navigate the bargains are at and what to look up. We always hear about the little guy getting cleaned out from the bank and getting taken advantage of.

Morgan Stanley just got fined $15 million for their wealth management division taking advantage of people over the course of seven years. From 2015 to 2022, they had access to people’s high-end accounts, and these people made withdrawals and made investments that people didn’t approve, so now they’re getting fined $15 million. I’m like, oh, that’s about time. You never hear about this. You always hear about the little guy who gets the text message and gets nailed for Venmo and Zelle and things like that. It’s terrible. One thing that keeps happening is, as I buy Christmas gifts online for people, there’s a lot of fraud out there where people are sending text messages, click here to track your package, and there are companies out there that have been targeted for this.

So I am telling you guys, do not do this. I have a friend of mine who recently got a notification from the toll roads, hey, listen, you were going to issue an arrest warrant if you don’t pay your toll fines. Oh, that’s nice. Guys, I was the head of the class action lawsuit here in Southern California, and when they had that massive settlement for over $30 million, and that’s not how they do it. And again, if you call the toll company, and you have even a late one right now, 99% of the time they’re going to forgive you and say, okay, we will waive the penalty if you just pay the toll and update your credit card or whatever the information.

Don’t fall for this stuff because it’s bad, and people get busy, and people get leery, and people get worried that they’re going to come after you. And the friend of mine that got this was just like, isn’t this amazing that this happened? So, anyways, let me know what you think, but I’m kind of glad that the wealth management division of Morgan Stanley had to pay that fine. I think it’s great. I want to remind you of something before I finish this video, and that is our Christmas card list and holiday card.

It is absolutely free to sign up for, but we are giving away thousands of dollars in free prizes to about 100 lucky winners. Everybody gets a card, sent to them, and then we will randomly pull prizes and send them out to you right after the first of the year. Go to dancepromo.com and sign up for that. It’s absolutely fantastic. And don’t forget, we have the private channel, which is iAllegedly Live. You sign up at iAllegedly.tv. Now, a couple things that I got a kick out of, and that is wealthy people, a larger percentage, when asked what they’re going to do with their retirement, said, ah, we’re not going to leave anything, dark kids.

We’re just going to spend it. We’re going to go hog wild, and we’re going to take our money, and we’re not going to leave it to our children. That is awesome. I think that’s fantastic. Yeah, nah, we’re just going to travel and have a good time. Can you believe that? I mean, you’re talking wealthy, like over 10, 15, $20 million on up. These people are just going to squander it and not worry about, you know, leaving anything for anybody. So go to work, kids. That’s what I’m trying to tell you. Now, speaking of that, going places.

I sent this to the guy that runs the cruise company that I’m friends with, and Costco, which generally is an inexpensive place to buy cruises, but you don’t get the service that you get with hunt. $293,000 for 150 day around the world cruise. $293,000 for that. Is that crazy, guys? $293,000 to go on a cruise. I mean, I love cruising. I couldn’t imagine what you get for $293,000. Those rich people that aren’t going to leave it to their kids. Hey, your mom and I are going to go on a cruise for $293,000.

Anyways, final, final story. In the set of Disneyland here in Southern California, Disneyland just settled a labor suit. I am telling you guys, you don’t want to own a business in California with a lot of employees because the rights of the employees over the company is just, it’s staggering what goes on with this. And Disneyland, they raised the minimum wage in the city of Anaheim, which is where Disneyland is located to over $15 an hour. And they’re making all these people step forward that work for them. Oh, they were entitled to overtime back wages, and it’s the tune of $233 million.

Disneyland just said, yeah, we’re just going to pay it at this point. So paying all these back wages. So if you work there from whenever they raised that wage, I believe it was 2017 to today, if you work there, you’re entitled to this money. If you know you or anybody you know worked at Disneyland. So make sure you start searching for those lawyers and read the story below, because I’m sure it mentions the name of the law firm that represented everybody. So the banks, troubled banks, final, final little snippet. You know, we talked about commercial real estate.

That’s the problem, guys. This is the problem in the canary and the coal mine with these banks. And there’s a great story below about the problem with these troubled banks and how you’re going to see the commercial real estate just completely destroy this right now. So hit the like button, subscribe to the channel, join the Christmas card list. Always look at our sponsors, guys. It’s 60 seconds out of your life, about half of the month. And I appreciate each and every one of you. That’s why we’re giving away all that stuff.

Okay? So you want to email me? It’s hello at iallegedly.com and reach out with any questions or anything I can do for you. Okay? I’ll see you very soon. [tr:trw].

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