FDIC, Dust in the Wind

I mentioned in an earlier post that the FDIC is on the path to busting.  Now, it is asking banks to prepay three years of deposit insurance premiums.  That’s a less-than-great sign for the security of retail banking deposits (our cash) and the banking industry in general.  But don’t fret, the FDIC has a credit line with the US government and the US government has a credit line with the US tax payer and future generations of US tax payers. 

-Billy Ray

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