« previous next »
Pages: [1]   Go Down

Author Topic: FDIC may insure against bank failure by borrowing from banks  (Read 199 times)

0 Members and 1 Guest are viewing this topic.

Offline Questor

  • Trade Count: (0)
  • Senior Member
  • *****
  • Posts: 7075
FDIC may insure against bank failure by borrowing from banks
« on: September 22, 2009, 11:12:25 AM »
Not exactly generally accepted accouting practice, fur shure!

http://finance.yahoo.com/news/FDIC-could-seek-bailout-from-apf-3266069115.html?x=0&.v=9
Logged
Safety first

Offline The Hermit

  • Trade Count: (0)
  • A Real Regular
  • ****
  • Posts: 722
  • Gender: Male
  • Security is the ability to take care of yourself.
Re: FDIC may insure against bank failure by borrowing from banks
« Reply #1 on: September 22, 2009, 03:44:45 PM »
Most likely will tap the treasury. Bend over tax payer. Ironic that the US money China received from supplying WalMart now will be used to shore up over extended US banks.  China will buy the US.
Mattress is looking better all the time.
 

   The Hermit
   
Logged

Offline rockbilly

  • Trade Count: (0)
  • Senior Member
  • *****
  • Posts: 3367
Re: FDIC may insure against bank failure by borrowing from banks
« Reply #2 on: September 22, 2009, 04:08:54 PM »
According to information from my broker last week,  if the American banking industry failed the FDIC could only pay off 0.0028 on every dollar lost.  Doesn't sound like our money is safe at all, the mattress does look good!
Logged
Pages: [1]   Go Up
« previous next »