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FDIC Running Out Of Money and Needs More!

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posted on Aug, 27 2008 @ 09:37 PM
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FDIC RUNNING OUT OF MONEY NEEDS MORE!


www.cnbc.com

The Federal Deposit Insurance Corp.'s (FDIC) list of troubled banks has increased by 30 percent this quarter, and this jump is causing the FDIC and the banking community to prepare for tomorrow’s problems today.

The FDIC may have to borrow money from the Treasury Department to handle an expected wave of bank failures coming down the road, according to the Wall Street Journal.

(visit the link for the full news article)



[edit on 27-8-2008 by thefreepatriot]

Mod Note: All Caps -- Please Read

[edit on 27-8-2008 by chissler]




posted on Aug, 27 2008 @ 09:37 PM
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Folks.. this is it.. The FDIC is buckling from the wave of recent bank failures... and now the private insurance company may be asking the U.S treasury for help... this is not good! Many people lost money when indymac fell... people that had over 100,000 lost all of it...Now imagine if the FDIC doesn't get the capital it needs from the U.S treasury? Imagine if its your Bank goes down... most of us think that because we have under 100,000 we are ok.. and yes the FDIC will pay... eventually the problem is that the FDIC can technically take 99 years to pay out... thats right 99 years.. I am sure your grandkids can probaly buy a coke if there lucky with your life savings (adjusted for inflation)...www.abovetopsecret.com... if you see they claim that the FDIC must pay the insurance claim as SOON as POSSIBLE ! that is the key... as soon as they are ABLE to pay! Credit unions are backed by t federal goverment not the FDIC which is a corporation. which can go BANKRUPT like any other insurance company... here is the agency:
The National Credit Union Administration (NCUA) is an independent agency of the United States Government. NCUA regulates, charters, and insures the nation's federal credit unions. In addition, NCUA insures state-chartered credit unions that desire and qualify for federal insurance. That is somthing to think about..


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


[edit on 27-8-2008 by thefreepatriot]

[edit on 27-8-2008 by thefreepatriot]

[edit on 27-8-2008 by thefreepatriot]

[edit on 27-8-2008 by thefreepatriot]



posted on Aug, 27 2008 @ 09:49 PM
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What the printing presses broke? I thought when they were about to run out they'd just make more.

*shrugs*

/sarcasm



posted on Aug, 27 2008 @ 09:53 PM
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Originally posted by thefreepatriot
... now the private insurance company may be asking the U.S treasury for help...


Gosh if we lose faith in the U.S government to pay it's bills we won't be willing to buy a foreclosed, depreciating, home with rising property taxes, from the bank.


[edit on 27-8-2008 by In nothing we trust]



posted on Aug, 27 2008 @ 09:59 PM
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reply to post by thefreepatriot
 


The FDIC always keeps money on hand for "potential" crisis's ..

Their funds fluctuate according to how many banks are on their watch list. If the number increases, the amount of money does to.

The FDIC is not a safety net for the economy, it is a safety net for failing regional banks. If a company like Bank of America, Chase, Wachovia etc. goes under the FDIC is not meant to insure all of those funds. The domino effect will render the USD worthless and your measly 100k would do you no good.

However is a bank with 1-200 branches fails, the FDIC can insure it the next day, it's what it's meant for.

The Watch List comprises almost entirely of regional banks.

To open your own bank on average states require a business plan, a back ground in banking or financial services, and 2-10 million dollars in start up Capital to insure your own deposits.

Not many people know that...

Most banks in this country are very small, and are suceptable to failing because of their small size -- thus the FDIC is there to protect you.



posted on Aug, 27 2008 @ 10:14 PM
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The FDIC will definitely be hitting the Fed Begging Bowl aka your pocket, along with Freddie Fannie, Wamu, etc,etc. The Fed is currently pumping 50 Billion a week. If they stop
, if they don't
The FDIC is just another deck chair on the Titanic. They can rearrange it along with all the others, won't make a bit of difference.



posted on Aug, 27 2008 @ 10:16 PM
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In 2003 (and all past recessions) the FDIC's accounts where much larger and the Watch List was just as long.

The underlying problems this time around are much worse, but the FDIC acquiring more money is nothing new at all.



posted on Aug, 27 2008 @ 10:42 PM
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Originally posted by thefreepatriot
Folks.. this is it.. The FDIC is buckling from the wave of recent bank failures... and now the private insurance company may be asking the U.S treasury for help... this is not good! Many people lost money when indymac fell... people that had over 100,000 lost all of it...Now imagine if the FDIC doesn't get the capital it needs from the U.S treasury? Imagine if its your Bank goes down... most of us think that because we have under 100,000 we are ok.. and yes the FDIC will pay... eventually the problem is that the FDIC can technically take 99 years to pay out... thats right 99 years.. I am sure your grandkids can probaly buy a coke if there lucky with your life savings (adjusted for inflation)...www.abovetopsecret.com... if you see they claim that the FDIC must pay the insurance claim as SOON as POSSIBLE ! that is the key... as soon as they are ABLE to pay! Credit unions are backed by t federal goverment not the FDIC which is a corporation. which can go BANKRUPT like any other insurance company... here is the agency:
The National Credit Union Administration (NCUA) is an independent agency of the United States Government. NCUA regulates, charters, and insures the nation's federal credit unions. In addition, NCUA insures state-chartered credit unions that desire and qualify for federal insurance. That is somthing to think about..


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


JUST so you know, this has happened in the past in regards to the FDIC....and the NCUA is much less likely to have issues because credit unions rarely go under as much as banks and are generally much smaller...


It's still a bad situation though.

[edit on 27-8-2008 by yellowcard]



posted on Sep, 30 2008 @ 02:41 PM
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reply to post by yellowcard
 


Very true.. NCUA is also a government agency unlink the FDIC which a corporation... also within 3 days of a credit union shutdown they have to pay up... unlike the FDIC where they say"as soon as possible"



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