Why will the FDIC never run out of money ??
Indymac wasnt even on the list till recent times.
Facts:
When the credit crisis first erupted last August the estimated writeoffs were US $200 Billion.
Last Qt 07 estimated losses US$ 400 Billion.
First Qt 08 " " " 1 Trillion.
Latest estimate " 1.6 "
Written off so far, US $ 400 billion, yes only 25% !!!
And the financials are rallying !!!!
BTW its not certain the Fed will bail out Fanny and Freddy.
If they do its the start of socialism.
Why will the FDIC never run out of money ??Indymac wasnt even on...
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