Thursday, December 31, 2009
o FDIC Bankruptcy
The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation's financial system by insuring deposits. Each depositor insured to at least $250,000 per insured bank through 12/31/2013. In 2009, a total of 130 bank failed. Does the FDIC's insurance fund have enough left to cover all the losses?
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