Ronald Pires

Will the PPIP Bankrupt the FDIC?

Note how it was said: "no NET losses". The key word is "net".

Bair is telling the truth, except that we are not doing the same "net" calculation that she is. If the net calculation is actually the difference between this program and putting these banks into receivership, then yes, of course there is "no net loss".

See? It's all in how you define your terms.