FDIC may be insolvent!!

[MoonRiver]

What the hell is happening? Our individual bank accounts and savings may NOT be protected for up to 100,000?

Caveat: Heard on CNN.

[ananda]

1. Yesterday Sheila Bair said ..

.. the fund could be insolvent by the
end of the year.

And yes, this is scary!

[MoonRiver]

3. Sheeeit!

:scared:

[pnwmom]

14. She ought to have made it clear that the U.S. government will back up

bank deposits (at least, up to the 250K limit) if it comes to that.

[Deja Q]

2. That's "...may NOT be protected for up to 250,000"

Thanks to little piggies like AIG oinking their way home.

[Confusious]

4. The government backs the FDIC

If the FDIC is insolvent, then so is the Gov'ment.

I don't really think so.

[lapfog_1]

5. It's $250K per account, not $100K

and, yes, if some major banks fail (or a large number of smaller banks), the FDIC may
become insolvent. Citi and BofA come to mind. There is a bill in congress right now
to allocate funds to shore up the fund.

[MoonRiver]

6. I've always heard $100,000.

[CountAllVotes]

8. no, it was upped to $250,000 per account

and through the end of 2009. May become permanent I was told too.

Don't watch/listen/believe the sh*t you hear on CNBC. They are a bunch of pigs. *oink oink*

:dem:

[TBF]

13. There's a lot of information at the fdic.gov webpage -

here is the link: http://www.fdic.gov/deposit/deposits/insuringdeposits/

[southern_dem]

7. 250,000 per institution, I think n/t

[lapfog_1]

11. per insured account. - n/t

[southern_dem]

17. Thanks, trying to figure

it out can be confusing at times. :)

[depakid]

9. Caveat: Heard on CNN.

'nuff said.

[biopowertoday]

10. there was an article on DU yesterday or the day before about this.

[pnwmom]

12. The ultimate insurer is not the FDIC, it's the U.S. government.

Which will make sure that funds are covered to the 250K limit.

This whole tempest came about because the FDIC told its member institutions that they were going to have to pay higher fees so that FDIC could meet its obligations.

[stray cat]

15. Its covered but with money they may have to print

[FrenchieCat]

16. Get a hold of yourself!

Your chicken little bonafides are showing!

[CountAllVotes]

18. thanks FrenchieCat

you are so very right. Every day they condemn President Obama. Too fucking bad is what I have to say about it. If they don't like it here in the USA they should leave!

:patriot:

:dem:

[depakid]

19. "If they don't like it here in the USA they should leave!"

:think:

[PBS Poll-435]

20. Sheila Bair needs to be ousted immediately

She is just fanning the flames.