FDIC's deposit insurance fund broke

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mikepdx

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FDIC insurance fund closes quarter $8.2 billion in debt

As the number of problem U.S. banks swells to the hundreds, the Federal Deposit Insurance Corporation is
increasingly hard-pressed to fill in the gaps where institutions have put depositor's funds at risk.

Unfortunately, a dire prediction made by government officials in early 2009 has come true: the FDIC's deposit
insurance fund is now broke, according to published reports.

FDIC insurance fund closes quarter $8.2 billion in debt
 
N

N_Jay

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This is what happens when the President steps in and starts futzing with the economy.

How do you up the limits of coverage arbitrarily without recalculating the required reserves?
No one in the commercial insurance world would be so stupid.

It really does not matter, since the fund is backed by the Fed. It will all be paid.
The shortage just goes against the deficit.
All bow to the great and wonderfull Obama.
 
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