2009-05-20 — ml-implode.com
``by Rolfe Winkler, CFA
Congress approved FDIC’s higher borrowing limits yesterday. The new law permanently increases FDIC’s line of credit at Treasury from $30 billion to $100 billion. And through 2010, FDIC will be able to borrow up to $400 billion more if the Fed and Treasury sign-off.
The legislation also extends, from 2009 to 2103, so-called “temporary†deposit insurance (unlimited for transaction accounts and up to $250,000 for individual accounts). ''
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tvsterling at 06:34 2009-05-21 said:
This just goes to show that the banking industry will never be reformed. Insurance means you pay a big enough premium to cover the pooled risk. The financial sector is proving that it not the people control the country. The hostile takeover of America is no longer a theory it's a fact. Permalinkadd a comment | go to forum thread
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