Posts Tagged ‘bank failures’

FDIC Low On Reserves

September 25th, 2009

Reserves of the Federal Deposit Insurance Corp. (FDIC) which insures bank deposits has hit a 17-year low of $10 billion. This is a result of the wave of bank failures over the last 2 years. Due to financial hardship, many banks are unable to pay new insurance fees to shore up the FDIC. Could this mean that taxes will be the only recourse?

See article here.

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