Apparently the $500 billion credit line with the US Treasury is in place for the FDIC to access:

“Fudging Losses Is Easy When the FDIC Does It, Too”
Bloomberg - Jonathan Weil

“At the rate it’s going, the FDIC soon may have no choice but to borrow money from taxpayers by tapping its $500 billion credit line with the Treasury … ”

http://www.bloomberg.com/apps/news?pid=20601039&sid=a3m5YKDn20BE

What is NOT CLEAR IS WHERE THE US TREASURY WOULD GET THESE FUNDS ITSELF as well as WHAT IMPLICATION THIS HAS TO THE FISCAL 2010 BUDGET DEFICIT.

NOTICE: All banks must remain open until FDIC can afford to close them. Jobs count as saved.

- AmericanPatriot

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