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$32 Billion set aside for bank failures expected to occur in coming months

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BR_Parkway Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 11:09 AM
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$32 Billion set aside for bank failures expected to occur in coming months
Reading through an article on FDIC potentially borrowing money from banks rather than hit them with another special assessment - came across this wonderful little gem:

Since January the F.D.I.C. has seized 94 failing banks, causing a rapid decline in the deposit insurance fund. Despite a special assessment imposed on banks a few months ago to keep the fund afloat, its cash balance now stands at about $10 billion, a third of its size at the start of the year. (Another $32 billion has been set aside for failures that officials expect to occur in the coming months.)

http://www.msnbc.msn.com/id/32963393/ns/business-the_ne...
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kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 11:12 AM
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1. That would be 3 years of health coverage for all our people...
according to estimates of present cost of President's plan.
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Romulox Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 11:13 AM
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2. How does that figure into the "profit" the bailout boosters are claiming we've earned
on the bank bailouts? :shrug:
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BR_Parkway Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 11:37 AM
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3. Probably as ficticious as a lot of the other bank numbers lately
seems like they reversed mark to market specifically to keep from having to declare more banks insolvent
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