Friday, November 13th, 2009 | Author:

The FDIC’s board voted Thursday to require banks to pay at the end of this year the amount they would owe the FDIC over the next three years. The agency collects insurance premiums from all banks, which it uses to reimburse depositors in failed banks. Washington Post

This is just insane!  Unless the FDIC gives exceptions, banks which are already financially unstable will be forced into bankruptcy!  Think about it this way:  You are eking out a living for yourself and have bought a nice car that you are still making payments on.  Basically, you are living paycheck to paycheck.  Your bank calls you up one day and says, “Oh, by the way, we need you to pay three years worth of car insurance within the next two months, or else we will repossess your car.”  What the heck do you do?  Pay for three years worth of insurance, or give up the car? Doctor Bulldog & Ronin

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2 Responses
  1. It’s pretty hard to convince people how bad they need you when they are able to get by just fine without you. Hence, the over regulation in order to create such need.

  2. akagaga says:

    Or another generation going through public “schools” would probably do the trick, too.