FDIC weighs extraordinary steps to shore up fund - Yahoo! Finance: "WASHINGTON (AP) -- The Federal Deposit Insurance Corp. is weighing several costly -- and never-before-used -- options as it struggles to shore up the dwindling fund that insures bank deposits.
The agency is considering borrowing billions from healthy banks. Alternatively, it may impose a special fee on the banking industry."
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Let me get this right here--instead of the FDIC bailing the banks, the banks are going to bail out the FDIC? At some point doesn't this just amount to nationalization?
1 comment:
Yep. When the private sector is broke, we nationalize it. When the public sector is broke, we privatize it (i.e. HOAs.)
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