As the FDIC has had to step in to take over more and more insolvent banks, the fund has dwindled to dangerously low levels. At the same time, the number of problem banks continues to grow at a rapid pace.
At the end of the first quarter there were 305 'problem institutions' with a total of $220.0 billion in assets, up from 252 institutions and $159.4 billion in assets at the end of 2008. At the end of the quarter, the Deposit insurance fund was at just $13.0 billion, or 0.27% of insured deposits, a decline of 24.7% in the quarter alone.
Worst is OVER I only wish it true.
Or is it getting worse? Interest rates EXPLODED upwards today.....where is that safe haven?
D
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3 comments:
I hope people don't listen to this guy...his background is not the best...
http://www.nytimes.com/2003/04/28/business/2-analysts-likely-to-pay-20-million-in-fraud-case.html
hope people don't listen to this guy...
http://www.nytimes.com/2003/04/28/business/2-analysts-likely-to-pay-20-million-in-fraud-case.html
Well, you can this or that but for me I say back it up or shut up. Nothing is straight down or up, so maybe in some areas biz a tad better, but the whole damn systmen is s screwed up.....if banks made $Billions...I am thinking would they with mark to market? yeah Im making mney too if I wasnt losing it! Take care of yourself...
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