FDIC is broke!

[Matt Collins]

September 28, 2009


HOW BROKE IS THE FDIC? THIS BROKE: FDIC expected to ask banks to prepay $36B in fees. (http://www.google.com/hostednews/ap/article/ALeqM5gf88jynuFd-zHtdT03ljMd3wzWUgD9B0JM781) “The Federal Deposit Insurance Corp. may take the unprecedented step of ordering banks to prepay about $36 billion in premiums to replenish the deposit insurance fund that has been severely depleted by a rash of bank failures.” Can you give me an advance on my salary? I’m a little short this decade.

Posted at by Glenn Reynolds at 10:07 pm

[JoshLowry]

Link directly to the source: http://www.google.com/hostednews/ap/article/ALeqM5gf88jynuFd-zHtdT03ljMd3wzWUgD9B0JM781

PJM is a coalition of neoconservatives who attacked RP in 07.

[Matt Collins]

Ah did not know that.

[StilesBC]

The FDIC has a line of credit with the Treasury that they are afraid to tap. First, it is not known if congress can push through another increase on the debt ceiling. Populist anger is tightening the purse strings in a major way. Second, the FDIC is worried that they will have to give up some of their autonomy if they take the cash - perhaps losing their role as bank regulator to the Fed, OTS or some new regulator.

It is a very interesting development and yet one more sign that reflation attempts are failing.

[awake]

Where's Madoff? oh, that's right, it's not criminal when the government does it.

[Matt Collins]

Populist anger is tightening the purse strings in a major way. It's about time. :mad:

[purplechoe]

http://1.bp.blogspot.com/_g8hLORbXap4/R6nmbuEX7DI/AAAAAAAAAH0/_-e3X0wGSBQ/s320/debt.png

[Objectivist]

Un

[lx43]

We are taxed to death people. Where is the outraged? WE all know this $36 billion fee is going to passed down to depositers.

[HOLLYWOOD]

The FDIC is not broke... they can increase FEES & CHARGES on banks, etc til the cows come home.

Remember... it's always an INDIRECT WAY, that government steals form the people. The more they charge the banks, the more the banks will push those increased cost along to YOU. The Saver, the depositor, the bank customers will be charged more for their usage in; higher fees/costs to bank, lower interest rate returns on deposits/savings, etc.

The PEOPLE/TAXPAYER are the insurers of the FDIC.

Anyway you route it.. WE THE PEOPLE get the bills and pay all the related costs. A direct charge or tax is so 1930's... now it's the hidden crap gimmicks government comes up with through secondary mediums.