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The Associated Press: Federal bank insurance fund dwindling
by Mike the Usurper at 4:56 pm EDT, Sep 17, 2008 |
But Whalen said the Federal Reserve, the Treasury and Congress should "immediately devise" and announce a plan to backstop the FDIC with up to $500 billion in borrowing authority to meet cash needs for closing or selling failed banks.
It's 1929 all over again. Next up WaMu, GM, Ford, and let's go out on a limb and say... Starbuck's (five bucks for a cup of coffee?). |
The Associated Press: Federal bank insurance fund dwindling
by Lost at 12:10 am EDT, Sep 18, 2008 |
The Federal Deposit Insurance Corp., whose insurance fund has slipped below the minimum target level set by Congress, could be forced to tap tax dollars through a Treasury Department loan if Washington Mutual Inc., the nation's largest thrift, or another struggling rival fails, economists and industry analysts said Tuesday.
The FDIC needs cash. Fuck. |
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