[RT] FDIC to guarantee up to $1.9 trillion in banks' debt

[Code 2 <Code2@xxxxxxx>]

The FDIC announced today that it will guarantee up to $1.4 trillion in
U.S. banks' interbank debt and will lift the $250,000 insurance limit
on another $0.5 trillion of deposits.

Sounds great until you realize that FDIC is backing up that big talk
with just $45 billion in its insurance fund.

It also looks like we need to update Everett Dirksen's famous quote.
It's now, 'a trillion here, a trillion there, and pretty soon you're
talking about real money.'

The full story is at http://money.cnn.com/2008/11/21/news/economy/FDIC_bankdebt.ap/index.htm


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