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IPFS News Link • Economy - Economics USA

Agency that insures your bank deposits may need help

• AP

The government agency that guarantees you won't lose your money in a bank failure may need a lifeline of its own.

The coffers of the Federal Deposit Insurance Corp. have been so depleted by the epidemic of collapsing financial institutions that analysts warn it could sink into the red by the end of this year.

That has happened only once before -- during the savings-and-loan crisis of the early 1990s, when the FDIC was forced to borrow $15 billion from the Treasury and repay it later with interest.

 

1 Comments in Response to

Comment by Anonymous
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It is going to need a lot of help it is already broke and oh oh http://www.americanbankingnews.com/2009/08/26/100-200-more-bank-failures-coming-in-the-next-12-months/ http://www.chrismartenson.com/blog/fdic-broke-now-what/25274



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