2009-09-29zerohedge.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."



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. Permalink

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