FDIC may need to borrow money
mammasan
Posts: 5,656
"When one gets in bed with government, one must expect the diseases it spreads." - Ron Paul
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I definitely agree that the depositers should be paid. I was posting the story just to inform people of how fucked our financial institutions are.
indeed.
however, towards the end of the article:
In a bid to replenish the $45.2 billion fund, Bair had said on Tuesday that the FDIC will consider a plan in October to raise the premium rates banks pay into the fund, a move that will further squeeze the industry.
The agency also plans to charge banks that engage in risky lending practices significantly higher premiums than other U.S. banks, Bair said.
The last time the FDIC had borrowed funds from the Treasury was at nearly the tail end of the savings-and-loan crisis in the early 1990s after thousands of banks were shuttered.
while not 'good news'.......at least it's not a precedent, and even with all the upheavals.....i shall hope it can get hammered out and on surer footing, in time. i try to focus on the cyclical nature of it all. i also hope they DO follow thru with banks that take too-high risks, etc....perhaps some positive changes can come from it all.
Let's just breathe...
I am myself like you somehow