2009-09-29 — zerohedge.com
" In an unprecedented disclosure, the FDIC has highlighted that it expects the DIF reserve ratio to be negative as of September 30. As there are a whopping 48 hours before that deadline, one can safely assume that the DIF is now well into negative territory: as of today depositors have no insurance courtesy of a banking system that has leeched out all the capital of the Federal Deposit Insurance Corporation. Let's pray there is no run on the bank soon."
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Comments:
ronin at 02:53 2009-09-30 said:
So the cupboard is bare, but they recommend no increase to assessments until 2011. I don't know what they're smoking, but I would like some. Permalinkadd a comment | go to forum thread
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