Bank Deposit Insurance May Tank

Comment #5

time*treat — Fri, 06 Mar 2009 13:39:29 GMT

Open a new account, get a free wheelbarrow.

Comment #4

Rick G — Fri, 06 Mar 2009 13:32:47 GMT

They may be able to back depositors if they can print money fast enough. But when a loaf of bread costs $100 it will be a moot point. Smart depositors will withdraw their money and invest in the loaf of bread today while it's $2. It's all an illusion folks...paper money represents nothing of tangible value. Investors would be wise to gear their investments towards sustainability. $250,000 can buy a few acres of arable land with a water supply, seeds, farm equipment, etc.

Comment #3

JAP69 — Fri, 06 Mar 2009 12:30:59 GMT

Then I see another headline of most big corporations tanking. The stock market will be below 6,000 today. <br

Comment #2

justxploring — Fri, 06 Mar 2009 06:31:55 GMT

FDIC spokesman Andrew Gray said the idea behind increasing the credit line is to give the agency additional flexibility in funding, and is unrelated to its ability to meet obligations to bank depositors. The FDIC is "backed by the full faith and credit of the United States government," Gray said. "We can and always will be able to meet our obligations to depositors."<br

Comment #1

justxploring — Fri, 06 Mar 2009 06:03:01 GMT

Yes, I agree that FDIC might need to borrow money from the government. But if they gave over $100 billion to AIG, do you really think they'll let FDIC fail?

Original Blog Entry: Bank Deposit Insurance May Tank

Jack-C — Thu, 05 Mar 2009 23:57:29 GMT

http://news.yahoo.com/s/afp/20090305/bs_afp/financeeconomyusbankinggovernment