The FDIC is bust. The group began 2009 with $30 billion in its insurance fund, but after covering losses at almost 100 insolvent banks so far this year, the fund is now in deficit and will stay in the red until at least 2012.
Why We Need to Lower the FDIC Deposit Guarantee
The FDIC is bust. The group began 2009 with $30 billion in its insurance fund, but after covering losses at almost 100 insolvent banks so far this year, the fund is now in deficit and will stay in the red until at least 2012. In 2008, Congress decided to “temporarily” increase the maximum amount of […]
October 05, 2009