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FDIC's Bair Says Insurance Fund Could Be Insolvent This Year

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posted on Mar, 4 2009 @ 09:22 AM
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FDIC's Bair Says Insurance Fund Could Be Insolvent This Year


www.bloomberg.com

March 4 (Bloomberg) -- Federal Deposit Insurance Corp. Chairman Sheila Bair said the deposit insurance fund could dry up amid a surge in bank failures, as she responded to an industry outcry against new fees approved by the agency.

“Without these assessments, the deposit insurance fund could become insolvent this year,” Bair wrote in a March 2 letter to the industry. U.S. community banks plan to flood the FDIC with about 5,000 letters in protest of the fees, according to a trade group.

(visit the link for the full news article)




posted on Mar, 4 2009 @ 09:22 AM
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Have we finally reached the stage where it's time to just pull our monies out of the banks all together, and clean out our safe deposit boxes?

Based on this type of rhetoric, and the instability of these banks, it may be something to consider...

If the current trend continues, we, the people, may have to create our OWN value system, independent of these banks and monetary policy controllers. We may have no choice soon.

Such strange times we are living in nowadays.

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



posted on Mar, 4 2009 @ 09:41 AM
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reply to post by DimensionalDetective
 


Wow, I am very surprised that this came out to the public. This is the kind of news that could cause a run on the banks. FDIC fund possibly insolvent this year. So much for everyone thinking they are insured if the banks fail.



posted on Mar, 4 2009 @ 09:48 AM
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reply to post by DimensionalDetective
 


Right here is the reason, NOT to keep money in the banks....... the govt. is systematically bankrupting and taking the American people's money..... at some point, they will say "Oh sorry" don't have the money to give to you from your banks failure.... But we are going to keep giving Billions to our banker friends"!



posted on Mar, 4 2009 @ 11:48 AM
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reply to post by questioningall
 


EXACTLY.

The monetary system set-up has been living on borrowed time to begin with, starting with the ever-fraudulent FED, and from there it just trickles down along the lines of "pseudo-capital" that these entities really have nothing of any value to back up these "promisary notes" with. It is a system predicated on "trust" and "belief", and both of those commodities are being wiped out with the insatiable greed and thievery we have been seeing in modern times.

Perhaps it's TIME to see this shady system come to a close, and for a new system to emerge...And no, I'm not talking about the AMERO, or some other "world currency", but a system built by the POPULACE, where people actually trade and barter wares worth actual value, instead of worthless notes printed up in some press room...



posted on Mar, 4 2009 @ 11:50 AM
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Run to the bank, dont walk, RUN, its not like your making any interest on it anyway , play it safe



posted on Mar, 4 2009 @ 02:51 PM
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reply to post by branty
 


I think I am going to withdraw all savings and just leave enough in checking to pay the bills. This information has not really gone mainstream (no TV coverage) and will most likely be suppressed to prevent panic and runs on the banks.




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