tagged w/ FDIC chairmain Bair
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17 within the first 3 months of the year.
2008 Had a total of 25 Failures throughout the entire year.
All this on top of FDIC's Sheila Bair's admission that the FDIC coffers may dry up soon.
Please read article link posted here at Current-
http://current.com/items/89865144/bair_says_insurance_fund_could_be_insolvent_this_year.htm
Get ready folks, Times are about to get interesting.
Please read article at link-
Read and discuss-
1%17 within the first 3 months of the year.
2008 Had a total of 25 Failures... more
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Hundreds of people desperate to withdraw money lined up outside the branches of IndyMac Bancorp after the California bank was seized in July by the Federal Deposit Insurance Corp.
FDIC officials were stunned. The bank now belonged to the federal government. The deposits were insured by the FDIC. Bank runs were supposed to end once the government arrived.
"It had just been so long since there had been a significant bank failure in the U.S.," FDIC Chairman Sheila C. Bair said in an interview yesterday. "People had just forgotten that banks fail."
And, she added, they had forgotten about the FDIC.
Three months later, Bair and her agency have moved to the forefront of the government's response to the financial crisis. Observers say the FDIC's recent actions may offer the best hope for limiting the consequences of the crisis.
Hundreds of people desperate to withdraw money lined up outside the branches of... more
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