hahaha! FDIC considering emergency fee on banks to recapitalize its own balance sheet

Discussion in 'Wall St. News' started by bond_trad3r, Feb 27, 2009.

  1. FDIC Weighs One-Time ‘Emergency’ Fee on Banks to Boost Reserves

    FDIC Weighs One-Time ‘Emergency’ Fee on Banks to Boost Reserves
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    By Alison Vekshin and Margaret Chadbourn

    Feb. 27 (Bloomberg) -- The Federal Deposit Insurance Corp. will consider imposing a one-time “emergency” fee and increase regular fees on U.S. banks to replenish a fund for insuring customers’ deposits that’s been drained by a surge in bank failures, the agency said.

    FDIC staff members at a board meeting today in Washington will recommend charging banks an “emergency special assessment” in response to an estimate that bank failures could cost the fund $65 billion through 2013, according to a memo outlining the proposal. The added fees are projected to generate $27 billion this year, compared with the $3 billion raised in 2008, the FDIC said.
  2. Too funny. :p
  3. Mods please move this out of the "Trading Forum".
  4. So the well run banks need to pony up to cover for the poorly run banks? That's as crazy as asking responsible homeowners to help their irresponsible neighbors pay off their overpriced mortgages!!!! Oh wait, been there, done that. gotta love america!
  5. Maybe the next step in the "recovery" process is to sue homeless and those dead?
  6. TGregg


    That's our new way of life. Don't have to get a gun and rob people directly, just blow all your dough then have Obama take from others and give to you. Yay.
  7. Daal


    The treasury injects capital into US banks and the FDIC takes it out via fees just to call itself 'privated funded'. Talk about transparency :p
  8. I'm sure that the banks will also raise their fees for their various services.