Regulators seize biggest Bank this year, in Florida!!!! (debt, borrow, money) - Economics - City-Data Forum

taurus430 · 05-21-2009, 06:40 PM

Regulators seize Florida's BankUnited FSB:

Regulators seize Florida's BankUnited FSB | Comcast.net (http://www.comcast.net/articles/finance/20090521/US.Bank.Closure/ - broken link)

HappyTexan · 05-21-2009, 08:02 PM

I read that. And it's not even Friday. Must have been too big to wait til tomorrow.

Traderx · 05-21-2009, 08:14 PM

This is a non event and old news.

The banks already been sold. Business as usual for customers.

user_id · 05-21-2009, 08:49 PM

Yeah this has been "in the works" for awhile.

HappyTexan · 05-21-2009, 09:38 PM

FDIC is on the hook to pay some of the $10 billion though along with the new bank.
Soon the FDIC will need a bailout..I think I'd be in favor of that one.

user_id · 05-21-2009, 11:29 PM

Quote:

Originally Posted by HappyTexan

FDIC is on the hook to pay some of the $10 billion though along with the new bank.

FDIC has always been backed by the government, if they ran out of money they would borrow from the treasury.

HappyTexan · 05-22-2009, 05:59 AM

Quote:

Originally Posted by user_id

FDIC has always been backed by the government, if they ran out of money they would borrow from the treasury.

Very easy to say "borrow from the Treasury". We are trillions in debt.
The Fed is now the buyer of last resort of Treasuries.

You can't play this game forever; sooner or later it's all going to come to a standstill.

ufcrules1 · 05-22-2009, 07:04 AM

Quote:

Originally Posted by HappyTexan

Very easy to say "borrow from the Treasury". We are trillions in debt.
The Fed is now the buyer of last resort of Treasuries.

You can't play this game forever; sooner or later it's all going to come to a standstill.

^^ 100% correct. You can't keep playing that game.

user_id · 05-22-2009, 02:14 PM

Quote:

Originally Posted by HappyTexan

Very easy to say "borrow from the Treasury". We are trillions in debt.
The Fed is now the buyer of last resort of Treasuries.

You can't play this game forever; sooner or later it's all going to come to a standstill.

No, you can play it forever. It will just be inflationary at some point.

If the FDIC stopped paying depositors all hell would break lose.

redbean · 05-22-2009, 08:36 PM

Quote:

Originally Posted by user_id

No, you can play it forever. It will just be inflationary at some point.

Don't you love being a participant in this grand economics experiment? Keeps me up at night.