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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (26913)	3/9/2010 12:09:58 PM
From: Wayners	Read Replies (1) \| Respond to of 103300

Deposit insurance is just that with banks paying insurance Premiums that in theory is suppossed to actually cover depositors to a specified limit. If this wasn't the arrangement in Iceland and the Govt just said, hey we have our citizens covered, then foreign depositors should rightfully be screwed. I'm hearing rumors now that by the end of this year there are plans to scrap FDIC entirely. Clearly insurance premiums to FDIC aren't big enough to cover massive failures. There are something like 2500 banks that are supossed to fail this year in the U.S. The taxpayer under no circumstances should have to put into the position of bailing out underfunded FDIC insurance.