FDIC Bailout?
Hey, it just gets better doesn’t it?
Bill Seeks to Let FDIC Borrow up to $500 Billion
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.
The Connecticut Democrat’s effort — which comes in response to urging from FDIC Chairman Sheila Bair, Federal Reserve Chairman Ben Bernanke and Treasury Secretary Timothy Geithner — would give the FDIC access to more money to rebuild its fund that insures consumers’ deposits, which have been hard hit by a string of bank failures.
Oh Obama, why do you hate us so?
You promised us recovery,
but the market doesn’t grow.
RLR
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