Seems like this one has slipped through the news rather silently. This is reassuring. 
FDIC warns US bank deposit insurance fund could tank
FDIC warns US bank deposit insurance fund could tank
FDIC Fund to Tank?
- Thread starter 50 Proof
- Start date
Didn't see THAT coming....:rollseyes
Is it really a hard concept for people to get their heads around that if you're spending more money than you're taking in, eventually you'll go broke? Am I alone on this one?
Here you go:
Report: Bill seeks $500 billion for FDIC fund - Stocks & economy- msnbc.com
"WASHINGTON - Senate Banking Committee Chairman Christopher Dodd has moved to allow the Federal Deposit Insurance Corp. to temporarily borrow up to $500 billion from the Treasury Department, The Wall Street Journal reported Friday."
I love how everything starts off as "temporary" when it comes to the government and money. At least they are planning on setting an "end date" for this one. We'll see once it passes whether or not they actually follow through with it as the economy continues to tumble. In fact, according to the article, all the end date means is that after that point, the Federal Reserve's approval will be required for them to borrow MORE money.
Is it really a hard concept for people to get their heads around that if you're spending more money than you're taking in, eventually you'll go broke? Am I alone on this one?
Here you go:
Report: Bill seeks $500 billion for FDIC fund - Stocks & economy- msnbc.com
"WASHINGTON - Senate Banking Committee Chairman Christopher Dodd has moved to allow the Federal Deposit Insurance Corp. to temporarily borrow up to $500 billion from the Treasury Department, The Wall Street Journal reported Friday."
I love how everything starts off as "temporary" when it comes to the government and money. At least they are planning on setting an "end date" for this one. We'll see once it passes whether or not they actually follow through with it as the economy continues to tumble. In fact, according to the article, all the end date means is that after that point, the Federal Reserve's approval will be required for them to borrow MORE money.
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In other words, print out more monopoly money and devalue or dollar even more. :thumbsup:
Maybe if we're lucky Obama will save the FDIC too :lol1:
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