Tuesday, August 25, 2009

Its August 25 - do you know where your FDIC is?

August 27 is when the Federal Deposit Insurance Corporation issues its 2nd Quarter report for 2009 on the state of health of American banks. They will also have to report on their reserve ratios and capital requirements...

Currently the FDIC faces a spiraling number of bank failures and it may have already tapped into its line of credit at the US Treasury, which is also out of funds, facing $1.8 trillion in over-spending this year. 

I am looking forward to understanding how they are going explain their funding issues?
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