The fund, which is marking its 75th anniversary this year, is at $45.2 billion - the lowest level since 2003. At the same time, the number of troubled banks is at a five-year high.
FDIC Chairman Sheila Bair hasn't ruled out the possibility of going to the Treasury for a short-term loan at some point. Eleven federally insured banks and thrifts have failed this year, including Pasadena, Calif.-based IndyMac Bank, |
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Margaret Bassett passed away August 21, 2011. She was a treasured member of the Opednews.com editorial team for four years.
Margaret Bassett--OEN editor--is an 89-year old, currently living in senior housing, with a lifelong interest in political philosophy. Bachelors from State University of Iowa (1944) and Masters from Roosevelt University (1975) help to unravel important requirements for modern communication. Early introduction to computer science (1966) trumps them. It's payback time. She's been "entitled" so long she hopes to find some good coming off the keyboard into the lives of those who come after her.
