On Mar 9, 4:15 pm, Anonymous <x...@[EMAIL PROTECTED]
> wrote:
> On January 14, 2008 the FDIC web site began posting the rules for
reimbursing
> depositors in the event of a bank failure. The Federal Deposit Insurance
> Cor****ation (FDIC) is required to "determine the total insured amount
for
> each depositor....as of the day of the failure" and return their money
as
> quickly as possible is "modernizing its current business
> processes and procedures for determining deposit insurance coverage in
the
> event of a failure of one of the largest insured depository
institutions."
> (seehttp://www.fdic.gov/news/news/financial/2008/fil08002.html#body)
>
> The implication is clear, the FDIC has begun the "death watch" on the
many
> banks which are currently drowning in their own red ink. The problem for
the
> FDIC is that it has never supervised a bank failure which exceeded
175,000
> accounts. So the impending financial tsunami is likely to be a
crash-course
> in crisis management. Today some of the larger banks have more than 50
> million depositors, which will make the FDIC's job nearly impossible.
