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FDIC runs out of money!

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posted on Sep, 29 2009 @ 01:13 PM
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www.nytimes.com...



They also announced that the fund, which began the year with more than $34 billion on hand but has been battered by bank collapses, would fall into deficit this week


Apparently the FDIC "greatly underestimated" problems plaguing federal banks... now theyve run out of money so the government has to bail them out!! lmao...




The plan would raise $45 billion from the banks to replenish the fund, which is suffering severe problems with both its capital and liquidity.


this is a sure sign of the coming economic collapse i think...




posted on Sep, 29 2009 @ 01:22 PM
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Already a thread on this:
www.abovetopsecret.com...



posted on Sep, 29 2009 @ 02:03 PM
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reply to post by captaintyinknots
 


isnt any bigger than mine so



posted on Sep, 29 2009 @ 02:06 PM
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Originally posted by TheCoffinman
reply to post by captaintyinknots
 


isnt any bigger than mine so


And your point is? You created a duplicate thread. Thought I'd let you know. Apparently we havent learned how to use the search function.....



posted on Sep, 29 2009 @ 02:06 PM
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Yup.

People are going to go crazy after this!



posted on Sep, 29 2009 @ 02:12 PM
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reply to post by TheCoffinman
 


Don't worry Obamanation won't let the banks go under, he will just give them more tax dollars so they can pay the FDIC so they can bail out the banks.



posted on Sep, 29 2009 @ 02:59 PM
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No worries. They will just print more money if they need it...



posted on Sep, 29 2009 @ 03:07 PM
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Originally posted by TheCoffinman
reply to post by captaintyinknots
 


isnt any bigger than mine so




On a thread..

Size does matter.
But so does the post time and date.

Good one liner though



posted on Sep, 30 2009 @ 04:56 PM
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Thought I would add this article:
Bank-Bailout Fund Faces Years in Red as Failures Jolt System

WASHINGTON -- The government said the fund that protects consumer bank deposits has fallen into the red and will remain there into 2012, a pointed symbol of how the aftershocks of the financial crisis will reverberate for years as banks continue to fail at a high rate.

The negative balance is a headache for the Federal Deposit Insurance Corp., which runs the fund. On Tuesday, it proposed the unprecedented step of having the banking industry prepay $45 billion in fees by the end of the year to give the government more breathing room to handle future failures.


How is this sustainable? Wasn't the argument that we didn't have to worry about money in the bank because of the FDIC insurance, now it's operating at a deficit and will continue to do so for the foreseeable future? How is this even possible? How do you insure hundreds of billions of dollars worth of accounts up 250k and be, not just broke, but in debt? Effing ridiculous!



posted on Sep, 30 2009 @ 05:15 PM
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reply to post by projectvxn
 


And if you are debt doing so, how are the accounts even insured? If the government is in debt, doesn't that mean that all and any of its assets have already been liquidated to cover that debt?

If your government is 10 trillion in debt, how is your money worth anything at all?

Disturbing times indeed.



posted on Sep, 30 2009 @ 05:24 PM
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reply to post by projectvxn
 


Great point! Thanks for the laugh.


How do you insure hundreds of billions of dollars worth of accounts up 250k and be, not just broke, but in debt?


Key words being... "insure hundreds of billions" and "broke"

If I were broke and telling people That I was insuring them and didn't have the money to cover the loss, I'm pretty sure that would be called fraud in a big way


S&F for the Op



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