The FDIC is not going to fail. It has already obtained backstops from the US treasury (agreed by the Fed incidentally, as well). Banks pay for their FDIC insurance, and over full cycles their payments for it cover all losses covered by that insurance. The FDIC is not a charity.
Stop spreading irresponsible rumors and slander about important American institutions. It is disgusting.
irresponsible rumors and slander about important American institutions.
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I don’t consider any American institutions important or credible. I trust no one in our government or any of their sorry ass institutions. If they have their hand in it, it’s 99.9% sure to be corrupt in some way. The past 9 months has changed my way of thinking.
On top of the standard quarterly assessments, the FDIC will collect a very large “special assessment” from all institutions on September 30 that is expected to raise $5.6 billion. They’ll probably do some more before this is all over (another one is coming 2009; it just hasn’t been officially announced).
Member banks will continue contributing at high levels until the fund is replenished.
Those are the facts, but it’s a lot scarier to simply post “the FDIC is going broke”.
rabscuttle385 was emphasizing what was posted and only added “WTH”. Why don’t you read before you attack.
“Stop spreading irresponsible rumors and slander about important American institutions.”
What’s discusting is the existance of FDIC and the Federal Reserve!
Stop drinking the pro-government kool-aid; it's disgusting.
FDIC is broke.
Continually except for that ten year gap when they collected little if any.