FDIC may borrow billions of funds from banks

A

ASusilovic

America’s Federal Deposit Insurance Corp may ask healthy US banks to lend billions of dollars to restore the health of the depleted fund that safeguards bank deposits, reports the NYT. The initiative, which has gained support from bankers and politicians across the board, is seen as a more attractive alternative to tapping an existing $100bn credit line with the US Treasury, or yet another emergency assessment, said senior regulators.

http://ftalphaville.ft.com/blog/2009/09/22/73111/fdic-may-borrow-funds-from-banks/

HAHAHAHAHAHAHAHHAHAHAHAAH !!!! The VERY INSTITUTION THAT IS SUPPOSED TO GUARANTEE depositors assets shall take on a loan from the VERY INSTITUTIONS that brought into the mess ! What a banana republic ! Just have to convert all USD into hard currency ! Rip-off de luxe !
 
As I have been saying, this economy is totally upside down, the Fu$KING FDIC is borrowing from banks, What the Fu$K, I have no clue why people don't understand whats going on. How many more banks are going to collapse when the option arms reset going into 2010 and commercial real estate starts to fall apart. No one has any understanding of whats really going on.

:eek:
 
"borrow" implies something voluntary on the part of the banks.

In fact, the FDIC will wrest money from those banks under threat of the iron fist of government coming down on them like...well, an iron fist.

Welcome to the Brave New World, where prudence is punished and punished severely.
 
soon these empty ehadlines and mere words will be a thing of the past and real poverty will be very very evident.

even crimes like rape and murder will no longer be prosecuted in such an anarchical society
 
Quote from texrex2002:

I know you've been asked this amillion times I'm sure, but what is hard currency? CHF? physi gold? farmland?
More...

I am missing THE GERMAN D MARK. Now, I am simply converting into EUR.
 
Hard currency is always changing. Suslovic is essentially saying that the United States currency will no longer be considered hard currency in the future because the U.S. will be an economic mess as compared to other countries.

With currency, it's all relative.
 
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