FDIC seeking $500B credit line - DFWstangs Forums
 
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post #1 of 8 (permalink) Old 03-06-2009, 08:21 AM Thread Starter
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FDIC seeking $500B credit line

Just saw it on fox business.

Yea, the banks are okay. But go ahead and give us a half a trillion dollar credit line just for the hell of it.
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post #2 of 8 (permalink) Old 03-06-2009, 08:41 AM
Lifer
 
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FDIC is Broke!

98 Brokra
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post #3 of 8 (permalink) Old 03-06-2009, 08:42 AM Thread Starter
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im looking for a link, but they just broke the story, and it looks like its too soon to get anything in print.
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post #4 of 8 (permalink) Old 03-06-2009, 08:43 AM
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Senate Banking Committee Chairman Christopher Dodd is moving to allow the Federal Deposit Insurance Corp. to temporarily borrow as much as $500 billion from the Treasury Department.

The Connecticut Democrat's effort -- which comes in response to urging from FDIC Chairman Sheila Bair, Federal Reserve Chairman Ben Bernanke and Treasury Secretary Timothy Geithner -- would give the FDIC access to more money to rebuild its fund that insures consumers' deposits, which have been hard hit by a string of bank failures.

http://online.wsj.com/article/SB123630125365247061.html


I don't know why we care, as I was finally able to understand why it's ok yesterday after a conversation with a professor from Denton. In discussing this topic he related that he was happy with it as he "understands the economy". I asked him why it was ok to just print print print, what was backing this play money up, how the resultant inflation would affect us, etc.

Had a brief exchange on how "the people are giving him an 80% approval rating". I then asked him what he thought about the guys who actually understand money on wall street and the approval rating they've given him. Poor guy almost turned purple trying to answer...

Then he threw out some bs line to the effect of "when you throw $9 trillion around some of it has to stick!" I laughed and asked him how spending a ton of money he didn't have would get him out of debt. Then in reply to "where's it coming from?" he replied that we were "just borrowing it from future generations". I laughed again and asked how he could justify borrowing this make believe money. Not quite sure why but at that point he got really pissed off and left...

Lol. Fucking idiots are everywhere.
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post #5 of 8 (permalink) Old 03-06-2009, 08:46 AM
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LOL

All you can do is laugh.

Economic Anarchy...
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post #6 of 8 (permalink) Old 03-06-2009, 08:46 AM Thread Starter
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thanks fox . Shoulda looked at wsj.
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post #7 of 8 (permalink) Old 03-06-2009, 08:47 AM Thread Starter
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Quote:
Originally Posted by 46Tbird View Post
LOL

All you can do is laugh.

Economic Anarchy...
peter schiff and his gold kick doesnt seem so bad in a year or so when the economy starts to recover.
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post #8 of 8 (permalink) Old 03-06-2009, 08:53 AM
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The banks don't want to pay the one time assessment that the FDIC is proposing. So they instead want to push it onto taxpayers...

Question: Didn't Congress mandate that the FDIC double the size of a deposit that they will insure? If they did, I'm sure that didn't help the situation.

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