It won't take many more failures before the FDIC itself runs out of money. The agency had $45.2 billion in its coffers as of June 30, far short of the $200 billion Whalen says it will need to pay claims by the end of next year. The U.S. Treasury will almost certainly come to the rescue by lending money to the FDIC.
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Where is all this money going to come from?
Friday, September 26, 2008
Thought to Ponder...
Posted by Chris at 4:30 AM
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