Financial Cents

Why Does FDIC Need Help from Treasury?

I absolutely agree that this credit crisis is not close to being over. Things will not improve until the housing market bottoms which I believe will occur some time in 2011! The number of banks that will fail between now and then will make the S&L crisis look like a cake walk. We will soon hear about an FDIC bailout itself! It's simply not possible to bail out so many banks to come without printing more money or borrow from the Treasury. This country is spiraling down slowly but surely and we are going to take down the whole world with us. It's sad and I think we'll live to see another Great Depression.