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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (37293)	7/17/2008 9:34:15 AM
From: fred woodall	Read Replies (1) \| Respond to of 220276

FDIC don’t worry be happy! Wallstreet Journal article, on Wed. “Next Taxpayer Bill: FDIC” says that the FDIC may have to stump up as much as $8 Billion to pay off depositors at failed IndyMac Bancorp. The FDIC holds $53 Billion of assets against the $4 Trillion-plus of bank deposits it insures. The agency believed it has enough capital to weather the storm, saying assets of the 90 banks on its “troubled” list total <only> $26Billion. If the FDIC’s quick and so far competent looking move at IndyMac soothe the nerves of other banks customers, it may yet head off further bank-run contagions without additional taxpayer expense. If more banks suffer IndyMac’s fate, FDIC’s limited resources will run out quickly, leaving Uncle Sam with yet another check to write. FDIC Federal Deposit Insurance Corp. chairman Sheila Bair says on CBS “The Early Show” the nation’s banking system is sound and Americans deposits in banks are “overwhelmingly” safe. No one has lost a penny in the 75 year history of the FDIC.