Headline from Reuters yesterday: Big Banks Still Hold FDIC Captive

http://blogs.reuters.com/rolfe-winkler/2009/08/21/big-banks-still-hold-fdic-captive/

read it … and weep!

The article points out that the 4 largest banks hold the vast majority of deposits. They are simply so big that the Federal government can’t possibly cover all their deposits! All four are insolvent and staying afloat through accounting gimmicks! I wouldn’t want to have a penny in deposits in these banks.

sbenard

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