FDIC to consider tapping Treasury to shore up funding needs

[zoog]

Tell me you didn't see this coming...

FDIC to consider tapping Treasury to shore up funding needs

HONG KONG (MarketWatch) -- The Federal Deposit Insurance Corp. is considering a plan to borrow funds from the U.S. Treasury Department, as its seeks to shore up its finances amid an expected wave of bank failures, according to a published report Tuesday. Funds borrowed from the Treasury would used to cover short-term cash-flow needs related to reimbursing depositors in the aftermath of bank failure, the Wall Street Journal reported Tuesday, citing comments by FDIC Chairman Sheila Bair. The report said the borrowed funds would be repaid once assets from the failed bank are sold.

In addition to believing that the "borrowed" funds will be repaid, I also am about to close a deal on some oceanfront property in Kansas.:rolleyes:

[FRED]

Re: FDIC to consider tapping Treasury to shore up funding needs

Tell me you didn't see this coming...

FDIC to consider tapping Treasury to shore up funding needs


In addition to believing that the "borrowed" funds will be repaid, I also am about to close a deal on some oceanfront property in Kansas.:rolleyes:

Riiiight, just like the S&L bailout money. :rolleyes:

[Supercilious]

Re: FDIC to consider tapping Treasury to shore up funding needs

Besides tapping Treasury there is also a lot of talk about financial socialism

[nathanhulick]

Re: FDIC to consider tapping Treasury to shore up funding needs

Besides tapping Treasury there is also a lot of talk about financial socialism

Come on now, do you expect these guys to lose money? They have bills to pay too, ya know!