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FDIC May Borrow Money from Treasury : Report

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posted on Aug, 27 2008 @ 02:38 PM
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FDIC May Borrow Money from Treasury : Report


www.reuters.com

(Reuters) - Federal Deposit Insurance Corp (FDIC) might have to borrow money from the Treasury Department to see it through an wave of bank failures, the Wall Street Journal
(visit the link for the full news article)




posted on Aug, 27 2008 @ 02:38 PM
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The FDIC's Deposit Insurance Fund used to repay insured deposits at failed banks has been drained. The last time the FDIC borrowed funds from the Treasury was in 1990 during the saving-and loans crisis. Nothing to mention of a large bank failure prediction by Mr. Kenneth Rogoff in the following BBC News article...news.bbc.co.uk...

www.reuters.com
(visit the link for the full news article)

[edit on 27-8-2008 by L.HAMILTON]



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