Comments on: More Bank Failures Coming As FDIC Goes Further Into The Red

By: Mr. Fusion

Mr. Fusion — Fri, 27 Nov 2009 14:44:45 +0000

The FDIC is financed by every insured bank paying a premium on all insured accounts. In recent years the premiums exceeded the amount required and so were turned over to the Treasury. In turn, the FDIC may go to the Treasury to recoup that money and, if required, borrow sufficient more, to meet its needs.

The FDIC will only be withdrawing money it previously deposited. Instead of vilifying the FDIC for doing what they should be doing, why not vilify the government that allowed the crises that made this happen in the first place.

By: Mr. Fusion

Mr. Fusion — Fri, 27 Nov 2009 14:40:29 +0000

#7, Dough,

Ignorance is bad. Listening to Limbaugh or Beck is dangerous. Blaming others for your own failures is just plain retarded.

Unemployment is an entitlement, the employers must pay for it the same as the employer must also pay for workers compensation.

That you don’t qualify for unemployment is YOUR fault. Although there were many in our county collecting unemployment, I know of none that took a vacation.

By: Dough Rises

Dough Rises — Fri, 27 Nov 2009 12:47:58 +0000

Oh paleeze, if I hear one more person complain about delays in getting FREE MONEY for not working I will make sure I get to your bank and puke all over their FREE MONEY first before they get it, then hand it to them personally, and puke all over them 5 more times as they keep complaining about everything. Most of these people on unemployment don’t even care about going back to work until it runs out. They go travel the world or at least their own back yards playing games, living leisurely, at taxpayer expense. I’m so sick of this crap. There are some of us US citizens hard working self employed who are in bread lines now with no insurance. Where’s the governments unemployment insurance program for the uninsured? We don’t need universal health care. We need universal unemployment insurance for all so nobody has to ever work.

By: Rick Cain

Rick Cain — Fri, 27 Nov 2009 02:44:31 +0000

Banks should fail, and fail HARD. Running at 0% interest and they still can’t make money???

Send these people to the unemployment lines! Make big banks pay more FDIC dues than smaller responsible banks.

By: bobbo, trusting my government does the right thing

bobbo, trusting my government does the right thing — Thu, 26 Nov 2009 19:22:22 +0000

I find this hard to believe. Just 2 weeks ago the lady who runs the FDIC said the program was sound and everything was peachy keen.

To think our government is corrupt in every imaginable way would be to – - – - – - – would be to – - – - – well, I guess it would be to think.

By: moss

moss — Thu, 26 Nov 2009 17:09:42 +0000

I would hope the Times writers know better than they admit to in scare articles like this.

FDIC assessments vary according to need. While people are whining about special assessments required to guarantee deposits as a result of years of zero oversight by Congress and play money-politicians – this year – last year and the year before, FDIC assessments on most banks was zero!

The money wasn’t needed. They didn’t ask for any.

By: chris

chris — Thu, 26 Nov 2009 16:12:04 +0000

The banks that fail are the smaller ones. Even if hundreds fail, very likely, it won’t change the big picture of American finance.

Here is a list of the top 50 banks by asset size.

The reality is that the little fish have mostly already been gobbled up.

If you look at AIG or Bear Stearns it is clear that a division can take out the whole company. The big banks need to be forced to divest themselves of their most dangerous products.

By: Eric

Eric — Thu, 26 Nov 2009 16:05:36 +0000

Meanwhile, GS tax rate is effectively 1%

By: SparkyOne

SparkyOne — Thu, 26 Nov 2009 15:30:41 +0000

Just plain old fucking thieves.

They hold UNEMPLOYMENT checks for 5 weekdays b4 applying to my account. Where is my FDIC, backed by the taxpayer goddamn bailout?
NEVERMIND
Where did I put those 300 7.62 rounds?