FDIC seeks 500 Billion loan from Treas.

Discussion in 'Economics' started by IanMacQuaide, Mar 5, 2009.

  1. http://online.wsj.com/article/SB123630125365247061.html

    Wow..this is serious.

    "WASHINGTON -- Senate Banking Committee Chairman Christopher Dodd is moving to allow the Federal Deposit Insurance Corp. to temporarily borrow as much as $500 billion from the Treasury Department."
  2. "Loan" hahahaha more like bailout that will never be paid back.
  3. Not a good sign :(
  4. Its a good sign if you have money in the bank.
  5. WTF!! Wasn’t Sheila C. Bair on CNBC every night last week saying the FDIC was fine?

    At least this so called lone “ cough, cough” is going to befit the public!
  6. It just says they'll take a loan in agreement for lowering their insurance fees by half.

    All you armageddon folks realize that if the world ends, you die too, right?
  7. That's what they're hoping for.
  8. Yeah this is really frightening stuff. The disaster type scenarios which have been predicted from the recent economic events seem to be coming slowly (well not slowly) to fuition! It is now not science fiction that the idea that ATM's will stop working are no longer from the alarmist types... Oh man, what a time to be alive. Wish people would have listened to ron paul. :mad:
  9. LEAPup


    Well, America isn't smart enough to be ALLOWED to vote anymore, so Ron Paul didn't get anywhere. Sad!

    I served MY Country in the Marine Corps, and CAN say this.

    I guess if things were to go bust overnight, the ATM machines would either be empty before hand, or pulled apart by an F250 truck to get the $$$. I've never had the chance to pull an ATM out of the concrete, and don't want to do so. However, I bet it would be a site to see!:D :D
  10. Heck yeah! I think the government is trying to fix that potential problem by making the dollar worth less then scrap paper.
    #10     Mar 8, 2009