Post by AskTheWiseOldMan on Sept 15, 2008 14:45:48 GMT -4
Since the last time this issue came up, circumstances have changed drastically.
Top Economist: Americans Should Worry About Bank Deposits
finance.yahoo.com/tech-ticker/article/56994/Top-Economist-Americans-Should-Worry-About-Bank-Deposits-if-Congress-Doesn%27t-Act?tickers=LEH,MER,BAC,AIG,WM,%5EDJI,%5EGSPC
"... Americans are justified to be worried, says Nouriel Roubini, of NYU's Stern School and RGE Monitor, who notes "there is already a slow-motion run on retail banks" occurring nationwide.
That "run" could accelerate as people realize the FDIC fund has about $50 billion left to "insure" about $1 trillion in assets at the nation's financial institutions, says Roubini. "They're going to run out of money" unless Congress acts soon to recapitalize the FDIC.
...
Top Economist: Americans Should Worry About Bank Deposits
finance.yahoo.com/tech-ticker/article/56994/Top-Economist-Americans-Should-Worry-About-Bank-Deposits-if-Congress-Doesn%27t-Act?tickers=LEH,MER,BAC,AIG,WM,%5EDJI,%5EGSPC
"... Americans are justified to be worried, says Nouriel Roubini, of NYU's Stern School and RGE Monitor, who notes "there is already a slow-motion run on retail banks" occurring nationwide.
That "run" could accelerate as people realize the FDIC fund has about $50 billion left to "insure" about $1 trillion in assets at the nation's financial institutions, says Roubini. "They're going to run out of money" unless Congress acts soon to recapitalize the FDIC.
...
