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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on September 22, 2009, 05:46:58 PM

Title: Insurance fund that protects bank depositors might ask banks for help?
Post by: Bindare_Dundat on September 22, 2009, 05:46:58 PM
This is a sick joke.

Senior regulators say they are seriously considering a plan to have the nation’s healthy banks lend billions of dollars to rescue the insurance fund that protects bank depositors. That would enable the fund, which is rapidly running out of money because of a wave of bank failures, to continue to rescue the sickest banks.

The plan, strongly supported by bankers and their lobbyists, would be a major reversal of fortune.