FDIC losing money in their insurance fund

[llecs]

Says IndyMac's closure zapped 15% out of the fund. FDIC is raising rates charged to banks so expect cuts in profits and further tightening of lending.

http://www.bloomberg.com/apps/news?pid=20601087&sid=abahg9z7p4wU&refer=worldwide

Message Edited by llecs on 08-11-2008 11:41 AM

[Anonymous]

Tip of the iceberg-

[MattH]

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@Anonymous wrote:

Tip of the iceberg-

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First ripples of the tsunami...

[haulingthescoreup]

Probably a good thing I don't have much in the way of savings.

I'm always stunned at the idea that anyone has $100K in cash to put anywhere at all...