Tuesday, September 22, 2009

F.D.I.C. may borrow funds from banks

As the post title says, the Federal Deposit Insurance Corporation may soon borrow funds from the nation’s healthy banks. It is pretty clear that Sheila C. Bair, the head of the F.D.I.C., would rather eat shards of broken glass and chase them down with a shot of hydrochloric acid than borrow money from Mommy, hence this possible route for propping up the insurance fund which rescues banks in poor financial health and protects their depositors.

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