Use access key #2 to skip to page content.

FDIC going to treasury?

Recs

7

August 27, 2008 – Comments (1)

The financial crisis is still early and already the FDIC is bringing up going to treasury....

Yuck.

1 Comments – Post Your Own

#1) On August 28, 2008 at 8:57 AM, XMFSinchiruna (27.97) wrote:

Hi dwot,

Oh yeah... this is bad!

FDIC has something like $38 billion on the books. It gets worse... the SPIC, which "insures" the assets of investments in brokerage accounts, is capitalized at .... are you ready? ... $1.5 billion.

What a joke! 

I recommend people start preparing themselves mentally for the distinct possibility that their assets, whether in banks or in brokerage accounts, could conceivably disappear overnight if we get a concentrated rush of failures. The 'too big to fail' list can only grow smaller, and the entities that are charged with guaranteeing your assets are woefully underfunded.

Report this comment

Featured Broker Partners


Advertisement