As we've been saying for oh, four months? Five? This thing is a bankrupt MENACE. The FDIC is a very, very dangerous and patently unconstitutional government creation, always inspiring more risky loans by banks than they would otherwise allow, because the banks can get below-market insurance rates from the FDIC rather than private insurers. The government has a tacit aggrement to ALWAYS bailout the FDIC, and so what happens? Yep, moral hazard, as economists say.

Guess who will bail out the FDIC? Yeah, you got it. YOU and your neighbor.

Be Seeing You!

http://globaleconomicanalysis.blogspot.com/2009/10/bair-admits-fdic-in-r...