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The FDIC is expecting hundreds of bank failures nationally over the next few years. They have hired new employees and brought more out of retirement. BTW, their funds are now down to $38b from $53b.
FDIC gets ready for bank failures (http://www.statesman.com/business/content/shared/money/stories/2008/08/fdic_0824_1.html - broken link)
The FDIC is expecting hundreds of bank failures nationally over the next few years. They have hired new employees and brought more out of retirement. BTW, their funds are now down to $38b from $53b.
FDIC gets ready for bank failures (http://www.statesman.com/business/content/shared/money/stories/2008/08/fdic_0824_1.html - broken link)
I opened a Washington Mutual CD yesterday paying 5% for 13-months. (Pretty good these days for just 1 year.) Yes, I knew the bank is in bad shape. Yes, I knew the FDIC is in bad shape, as well. -But I couldn't help myself.
If the bank fails and if the FDIC can't meet its obligations, I promise to take my medicine like a man.
They always have money, the printing press is going full speed!
As Alex Wallenwein would say, "Got gold?"
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