At the end of March the FDIC had about 13 billion left it it's insurance fund. Virtually every Friday there is at least one bank that fails. Two weeks ago the FDIC took over $4 billion hit on Florida's BankUnited. The FDIC is now virtually tapped out and will need to go to for a government bailout as many more banks will fail in the months to come.-LouMonday, June 1, 2009
Chart of the Day
At the end of March the FDIC had about 13 billion left it it's insurance fund. Virtually every Friday there is at least one bank that fails. Two weeks ago the FDIC took over $4 billion hit on Florida's BankUnited. The FDIC is now virtually tapped out and will need to go to for a government bailout as many more banks will fail in the months to come.-Lou
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