So far this year, 81 banks have failed and been taken over by the Federal Deposit Insurance Corp. In most cases, deposits and some of the assets have been transferred to acquiring banks and the FDIC acquires some of the assets, normally the troubled loans. that are assets only on paper.  The FDIC estimates that the failures so far this year have cost over  $17 billion!

Banktracker keeps watch on what's happening with this seldom-reported area of the federal government, and you can find more information there.  One surprising thing they have found is that many banks still are swamped with still growing collections of loans that are not being repaid on time, and of course, more repossessed properties.  At the end of last September, banks held more than $348 billion in badly past due loans and foreclosed properties, a 70 percent increase from the previous year.  It's no stretch to think that this recession is not over yet, with problems such as this still growing.

And speaking of growing financial problems, Fannie Mae and Freddie Mac, the mortgage companies operating under U.S. conservatorship, will require additional government aid.  "While critical to supporting the ongoing functioning of the nation's housing finance system, the enterprises would be unable to serve the mortgage market in the absence of the ongoing financial support," said Edward DeMarco, acting director of the Federal Housing Finance Agency.  In case you're wondering how much more aid, they've requested another $19 billion!

Since September 2008, when the government seized control of Fannie and Freddie, we've already spent a combined $126 billion into the companies to keep them afloat.  And the Obama administration appears to have something to hide related to political contributions made by Fannie and Freddie to congressmen.  In response to a lawsuit filed by Judicial Watch against the Federal Housing Finance Agency (FHFA), federal lawyers have asserted the ridiculous claim ithat Fannie and Freddie are not subject to the Freedom of Information Act, even though they are supported by federal tax dollars.

Stay tuned, watch your wallet, and let's get rid of this Democrat-controlled Congress in November.

The elections for the trustees of our major public universities are often overlooked by voters.  But they are very important nonetheless.  These trustees determine the direction of education and budget at these institutions, which are partly funded with our tax dollars.

The board is comprised of eight members who serve eight-year terms with staggered elections every two years.  It appears that 2 seats are up this year.  Republicans will nominate 2 of  these 3 these people to appear on the November ballot, at our convention this August.

Donald W. Nugent is an incumbent, running for reelection, having served since January 1, 1995.  Don graduated from MSU and is a lifelong resident, farmer, and entrepreneur of Frankfort, Michigan. Don and his wife Gail, own and operate Nugent Farms, producing cherries in Benzie county.  Don has also started and run other businesses, and has 14 years on the Michigan Farm Bureau and affiliate company Boards of Directors.

Mitch Lyons is a life long resident of Michigan where he was born in 1970 in Ionia.  Mitch attended Michigan State University on a football scholarship and played in the NFL through the 1999 season.  He is currently a financial planner in the Meadowbrooke Group where he and his team focus on planning issues of individuals and business owners in the areas of wealth accumulation, protection and distribution.

Brian Breslin is a graduate of Michigan State University and has retired as a Senior Vice President for Meijer.  Between Brian and his wife Melinda's immediate families there are nineteen graduates and post-graduate degrees from Michigan State.  Brian's father, Jack Breslin, served Michigan State with a 38 year career, and the Jack Breslin Students Events Center is named in his honor.  Brian notes that this gives him a deep involvement with the university.

Parade Help Wanted!

Yes, there are more parades coming up, and Senator Roger Kahn welcomes anyone who wishes to help his crew march in them.  There are two parades this weekend!

The Ashley Trading Days Parade is this Saturday, June 12th.  Kickoff is at 12:00noon at the High school  at 104 N. New Street in Ashley, Michigan.

Also, the Bavarian Festival Parade is this Sunday, June 13th, with kickoff at 1:00pm.

Finally, next weekend is the Shields Lions Parade, on Saturday, June 19th.  The lineup begins at 9:00am with the parade at 11:00am.  Meet at the Shields Elementary School, 6900 Stroebel Road at S. River Rd.

If you would like to help, or have any questions, please contact Stephen Sugg on my staff at 989-501-1070.  "Thank you again for your willingness to help. People like you make my success possible," Roger Kahn.

The Annual Senior Picnic will be held on Friday, June 18 at Haithco Park.  Gates open at 9:00am and the picnic lasts until 1:00pm.  This year there will be live entertainment, a health fair with exhibits, and Project Fresh (an MSU Extension food program) will be present.  And of course, FOOD!  They'll be serving general picnic fare with BBQ beef sandwiches.

Haithco Park is at 2355 Schust Rd., at the end near Towne Centre Dr. and the event will be behind the Senior Center.  The Saginaw County Commission on Aging is recommending a donation of $2.25 per person for those 60 and over, and will charge admission of $5.00 per person for folks younger than 60.  If you're going, the reservation deadline is Monday, June 14.  Call 989-797-6800.