FDIC Headed For Head On Collision?

update on: Yahoo: Insured Deposits May Not Be So Sure
(update #3 on:
U.S. Going Bankrupt?)
Federal bank insurance fund dwindling: yahoo

"The Federal Deposit Insurance Corp., whose insurance fund has slipped below the minimum target level set by Congress, could be forced to tap tax dollars through a Treasury Department loan if Washington Mutual Inc., the nation's largest thrift, or another struggling rival fails, economists and industry analysts said Tuesday."

"Additional failures of large banks or savings and loans companies seem likely, and that could overwhelm the FDIC's insurance fund, said Brian Bethune, U.S. economist at consulting firm Global Insight."

"But fear is growing on Main Street as well as Wall Street about the likelihood of multiple bank failures and the strain that would put on the FDIC."

"But Whalen said the Federal Reserve, the Treasury and Congress should "immediately devise" and announce a plan to backstop the FDIC with up to $500 billion in borrowing authority to meet cash needs for closing or selling failed banks."

re: "Overwhelm the FDIC" - Global Insight (aptly named)

One guess as to where the NWO engineers are going with the U.S. financial train.
Answer: a train wreck!
They are announcing it up front. (WaMu next is the rumor)
and you ain't seen nuthin yet: America: They're Shutting It Down

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