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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (100860)	8/15/2009 9:45:41 AM
From: Hawkmoon	Read Replies (1) of 116555

She needs a math lesson. The cost of FDIC is staggering, and the benefits are negative. NO.. the manner in which it has been managed is asinine. As you stated, the FDIC should have stepped in far earlier and closed some of these banks. But I'm not actually sure they can over-ride the Federal Reserve in these matters. But without FDIC, we would have a repeat of the bank failures in 1932, and the loss of billions in depositor funs. People standing in line in front of closed doors. Everyone else would be burying their remaining cash in the back yard. I think NOT having FDIC would be asinine. But it needs to be managed properly and have the teeth to enact banking standards from which there should be no deviation. Hawk

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