Nov 24 2009
13 Million Negative Equity Homeowners and Negative Equity FDIC: The Shackles of Debt Leverage on the American Economy. FDIC $8.2 Billion in the red with 552 Troubled Banks on the Revised List.
The third quarter was devastating for banks and homeowners. To show the growing divide between Wall Street and the American economy, the FDIC just released its third quarter banking profile. The FDIC fund is not only broke, it is now in the red to the sum of $8.2 billion. We’ve been warning that the fund [...]
Nov 22 2009
FDIC Broke and Selling Real Estate: How $13 Trillion in Assets is Protected by no Deposit Insurance Fund. FDIC Selling Properties to Replenish Fund and Collecting Early Fees.
The FDIC, that enigmatic seal of security on your bank entrance, is virtually bankrupt. The FDIC provides deposit insurance to over 8,000 banks that collectively hold $13 trillion in assets. We can question what those assets are really worth since many of these institutions hold $3 trillion in commercial real estate loans and defaulting residential [...]
