Thread: Sheila Bair: FDIC Could Go Bust

Sheila Bair: FDIC Could Go Bust
Friday, March 6, 2009 11:33 AM
By: Marc Davis

If bank failures multiply, as some knowledgeable observers have forecast, the Federal Deposit Insurance Corporation (FDIC) which insures depositors funds could go broke.

This was the dire prediction of FDIC Chairman Sheila Bair, writing in a letter to banking industry executives.

Due to "rapidly deteriorating economic conditions" a large number of bank failures are possible, wrote Bair.

If that happens, according to Bair, "...current projections indicate that the fund balance will approach zero or even become negative.â€

If the assessments remain in place at their current levels, some 50 to 100 percent of some small bank earnings could disappear, according to Fine.



Bingo!

But that's how it's been set up to occur isn't it? All of the small banks disappear, leaving only the banks owned and operated by the elites who plan to rule the world and everyone in it.

And these bankers expect help from whom in this? The people they are asking for help are the ones helping carry out the plan.

The reality is that there is NO ONE to turn to for help.....not for the small banks, not for the American people. The people who WOULD help us are, currently, completely overpowered by the cabal in power and each and every day that passes sees more tightening of the iron grip these people have us in.

Originally Posted by azwreath

If the assessments remain in place at their current levels, some 50 to 100 percent of some small bank earnings could disappear, according to Fine.



Bingo!

But that's how it's been set up to occur isn't it? All of the small banks disappear, leaving only the banks owned and operated by the elites who plan to rule the world and everyone in it.

And these bankers expect help from whom in this? The people they are asking for help are the ones helping carry out the plan.

The reality is that there is NO ONE to turn to for help.....not for the small banks, not for the American people. The people who WOULD help us are, currently, completely overpowered by the cabal in power and each and every day that passes sees more tightening of the iron grip these people have us in.

Sadly, so true!

Maybe it's time to think about withdrawals!