Also see: How the Bank Bailout Helped Americans
FDIC Preparing For Massive Bank Failures
"FDIC chairwoman says banks should be sensible about pay" by Alison Vekshin and Erik Schatzker, Bloomberg News | August 6, 2009
WASHINGTON - Sheila Bair, the chairwoman of the Federal Deposit Insurance Corp., said she is concerned about “how bad the economy will get’’ as more loans become delinquent because people lose their jobs.
I'm not hearing that; I'm hearing all sorts of recession is over talk.
Unemployment in June was 9.5 percent, and President Obama has said the rate will exceed 10 percent this year. Bank failures, which have reached a 17-year-high of 69 in 2009, will “keep up at a pretty good pace’’ through 2010....
Some made BIG BUCKS though!
The FDIC will probably impose an emergency fee on banks in the fourth quarter, the second special assessment this year to replenish the deposit insurance fund, she said. Bair is asking Congress to consider her proposal to create an industry-supported Financial Company Resolution Fund that the government would use to unwind a “large or complex’’ institution and discourage companies from growing too large.
Also see: FDIC Takes on Fed
--more--"
Does it really matter what fascist alphabet agency takes over?
Ideally the answer would be yes because the FED is a PRIVATE ORGANIZATION and in theory the FDIC is us. Problem is, I don't trust any of them anymore.
