FDIC issues warning. Perhaps we should consider shutting it down?
Throw this one into the rapidly mounting "duh" pile. FDIC is reporting of a rapid increase in distressed banks, highest in 16 years to be exact. On top of that and you can throw this one into "government manipulated statistic" pile, FDIC claims their account dipped further into negative territory. Looks like our ruling elite are following a directive of extend and pretend, because a negative account does not exist. There is a much more apt and straightforward term for negative account and that would be the term bankrupt. As this little blurb suggests, the situation is dire and getting worse. The FDIC reported that its Deposit Insurance Fund dropped further into negative territory, reporting a $20.9 billion loss in the fourth quarter, worse than its $8.2 billion loss in the third quarter. The agency hopes to make up that loss through advance payments by banks of $45 billion in fees In fact, as reported here some time ago , FDIC has been br...