March 20, 2009 2:51 PM
From Zero Hedge:
Sheila Bair came out with some very scary words for depositors everywhere: “Without additional revenue beyond the regular assessments, current projections indicate that the [depositor investor] fund balance will approach zeroâ€.
Even if the FDIC has all the funding it normally has, it’s not enough to handle a run on a money center bank…the Treasury would have to step in… but the fact that she is willing to risk undermining public confidence with words like these is unusual.
More on this topic
(What's this?)
The Debts of the Spenders: Interview W/the FDIC Vampires
(The Debts of a Nation, 3/8/09)
FDIC Chairman Sheila C. Bair Statement on the Legacy Loans Program
(Credit Writedowns, 3/23/09)
FDIC skirts law, projects no losses from Public-Private Investment Program
(John Harris, 4/7/09)
FDIC: Begging Congress for a $500 billion handout
(Jr Deputy Accountant, 3/11/09)







