The FDIC just released the final rule on the 3 year special upfront assessment fee that must be paid by December 30, 2009.
By Daniel at 13 November, 2009, 6:29 pm
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
http://www.fdic.gov/news/news/press/2009/pr09203.html
That’s $45B out of the banksters pockets at a time when the large (bad guy) banks cannot afford it. Of course the ruling let’s them “account” for it later….surprise.
Do you remember the “Bank Stress Test” that declared all those banks were “well capitalized” few months back? That stress test assumed a maximum 10% unemployment rate…the latest release is 10.2%! (although we all know it’s closer to 20%).
Word on the street is Tim Geithner is livid at Shelia Bair of the FDIC for being so mean to his brethren.
Look for a “too big to fail” bank to fall some Friday night in the near future. Sure looks like fun in December!
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
Related Posts:
Categories :
Market Outlook
No comments yet.