"FDIC: Banks lost $32.1b in 4th quarter" by Globe Wire Services | March 21, 2009
WASHINGTON - Federal regulators now say the nation's banks lost $32.1 billion in the final quarter of last year, even worse than the $26.2 billion originally reported last month.
The Federal Deposit Insurance Corp. said yesterday that "significant" revisions it received from banks also lowered the industry's net income for all of last year to $10.2 billion from $16.1 billion....
Yeah, I'm really bleeding for the poor banks. Bailout should cover that, if it hasn't already.
Meanwhile yesterday, FDIC chairwoman Sheila Bair, seeking to quell opposition to a fee propping up the deposit insurance fund, told community bankers the biggest share of the cost will be borne by big lenders.
You know, why they gotta hide this in the second half of the piece? Because they know most people just skim the headlines, maybe read a paragraph or two and then move on? Why the games, MSM?
"Even though this increase comes at a difficult time, I strongly believe that keeping deposit insurance industry-funded will be better for you and your customers when this crisis is over," Bair told the Independent Community Bankers of America in Phoenix. More than 70 percent of the fee will be paid by lenders with assets exceeding $10 billion, she said.
What BULLSHIT coming from the MOUTHS of GOVERNMENT again!!!
See: Small Banks to Bailout Wall Street
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Have you HAD IT (like me) with the MOUTHPIECE MSM and its LYING, folks?
