Oct 1 2009
FDIC Insuring 8,200 Banks with $9 Trillion in Deposits and Zero in the Deposit Insurance Fund. Calling Banks to Prepay Assessment of $45 Billion.
The FDIC has greatly underestimated the problems of our nation’s banking system. Earlier in the week the FDIC proposed that banks put up $45 billion to protect bank depositors. The average American must be amazed that a system backing $9 trillion in deposits is essentially broke. Clearly the FDIC has the backing of the U.S. [...]
Sep 17 2009
The U.S. Balance Sheet: Households See Net Worth Down by $12 Trillion Since Peak and Total Debt Floating in the Market of $33 Trillion.
The Federal Flow of Funds report was released on Thursday with an expected jump in household net worth. When we did our last report, we stated that with the $13.89 trillion in wealth that evaporated to the trough, we would expect a jump in net worth to come from the massive stock market rally. The [...]
