Bair Says Insurance Fund Could Be Insolvent This Year

Dandelion Salad
By Alison Vekshin

March 4 (Bloomberg) — Federal Deposit Insurance Corp. Chairman Sheila Bair said the fund it uses to protect customer deposits at U.S. banks could dry up amid a surge in bank failures, as she responded to an industry outcry against new fees approved by the agency.

“Without these assessments, the deposit insurance fund could become insolvent this year,” Bair wrote in a March 2 letter to the industry. U.S. community banks plan to flood the FDIC with about 5,000 letters in protest of the fees, according to a trade group.


via News

h/t: Speaking Truth to Power


What’s Dead (Short Answer: All Of It) (must-read)

When Securitization Blew Up; So Did the Economy By Mike Whitney

Richard C. Cook on Alex Jones 03.03.09

Modern Money Mechanics Federal Reserve

Inflation and the Dollar’s crash (2008)

America’s Fiscal Collapse by Michel Chossudovsky

Social Collapse Best Practices by Dmitry Orlov

The Economy Sucks and or Collapse 2

5 thoughts on “Bair Says Insurance Fund Could Be Insolvent This Year

  1. Pingback: Argentina’s Economic Collapse (full video) « Dandelion Salad

  2. Dear Ms. Bair,
    The only part Financial System that is not failing is the Federal Reserves Printing press.
    S.S., Un-Employment, Medi-Care, social programs, charities, are all in distress, and all that is floating the fiat system, is the considered value of the U.S. Dollar.
    If beaches were covered in diamonds, the sand pebble would be preciuos. Got sand ?

  3. Pingback: Retirement plans of millions of Britons at risk after Bank of England ‘prints money’ « Dandelion Salad

  4. Pingback: The Bottomless Bailout by Ralph Nader « Dandelion Salad

  5. Pingback: The U.S. Financial System Is Effectively Insolvent by Nouriel Roubini « Dandelion Salad

Comments are closed.