What's the story with FDIC?

[darkstar]

For some reason--cough--I've been wondering about this lately. On the level of the individual, what are the rules? Is each separate account at a bank insured? Or does each account have to be at a separate institution?

More broadly, how much would it take to begin to stress FDIC's solvency? And if it did get to that point, where would money come from. Unlike individual banks or sectors, it seems to me that if it got to that point, that would be no place in America to get the money from, i.e. taxes, bank reserves, etc. Borrowing from foreign entities?

Sorry if this has been asked and answered in recent discussions.

[whistle]

1. FDIC has been used by BushCo to bail out the wealthy speculators

...and big Central Banks leaving nothing for those who will need those funds. It has all been about economic treason

[mac2]

10. Yet they still won't impeach.

[angstlessk]

2. check out the S&L debacle I recon it is still effective???

however, though the FDIC should have insured for only 100,000 they decided the rich were entitled to more from the taxpyaers. We are still repaying it, part of boosh sr legacy and debt!! :grr:

[mac2]

8. We barely bailed them out back then...we can't do the

international huge ones.

[Zynx]

9. We can, it would be ruinous, but we would have to.

[mac2]

3. I saw a hearing on CSPAN by Congress

regarding the bank failures and refusal by them to pay their share of FDIC insurance to keep the system healthy. It lacks funds period.

During the hearing Democrats warned that the huge world banks could fail and we couldn't bail them out. They would be too big. It is best to keep banks at least national. What happens...they ignore it.

What is going on now with the FDIC? We the people once again bail the bankers out as best we can (like the Saving & Loan scandals...by who once again...the Bush gang). Yes...the world banks own us. I think the Bush banking family want that. Their Ponzi schemes can be seen everywhere in our society and related to the illegal wars. It is a crime gang and they should be on trial by RICO.

Oh but they can find time to monitor Spitzers phone calls to prostitutes and money withdrawals but not trillions missing for our treasury? So...Orwellian and corrupt. They did it without guns or an army too.

Get your hands up. I want the slavery of your children too.

[Warren Stupidity]

4. The googler seems to be up.

Accounts at different banks are insured separately. One person could keep $100,000 in accounts at two separate banks and be insured for a total of $200,000. Also, accounts in different ownerships (such as beneficial ownership, trusts, and joint accounts) can be considered separately for the $100,000 insurance limit. The Federal Deposit Insurance Reform Act raised the amount of insurance for an Individual Retirement Account to $250,000.

http://en.wikipedia.org/wiki/Federal_Deposit_Insurance_Corporation

Joint accounts are separate from individual accounts are separate from IRA accounts,

[mac2]

5. I know you think we are all covered under the law but the system can't

handle it. They aren't paying into the insurance fund.

[Warren Stupidity]

6. That ain't what I'm worried about.

I am more worried about them inflating the dollar into worthlessness. Sure they'll pay out the 100k, but they will do so by printing so much money that it effectively won't matter.

[mac2]

7. Where is your wheel barrow?

I can't imagine what they were thinking. I told them over and over the merger of huge financial institutions and de-regulation (lack of over sight) would be a disaster (like the depression) for our country...and maybe the world.

The CEOs and merger lawyers take their plunder and the institution goes into debt. Ponzi schemes all over the place.

Destruction of our democracy and wealth has resulted in their irresponsible and corrupt rule. What do they talk about on the media? St. Pat and Spitzer.

You have to know the Cons are in power.