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Politics : The Obama - Clinton Disaster
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To: DuckTapeSunroof who wrote (28780)4/7/2010 12:15:06 PM
From: Wayners1 Recommendation  Read Replies (1) of 103300
 
Our FDIC system is in that same position. I can see the Fed's forcing the taxpayers to cover people well beyond what FDIC was suppossed to cover, and FDIC can't really cover what is promises in the event of a really big event. They should fund these things in the same way engineers plan for unusual flood events..like designing for the 100 year flood or 500 year flood. But they don't. Banks don't like to have to pay-in to the insurance, and their pay-ins are tied to the risks they have on their books like they should be. You saw what the Fed's did in 2008, they upped the coverage of FDIC, that no banks had paid in to cover. That never should have happened. People know what they are covered for and not and they should have been stuck for the difference. That was the agreed upon contract.
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