FYInance

Posts Tagged ‘fdic’

I heard the FDIC (The company that protects peoples money in the bank) is going to go away. Why is this? If banks go under and peoples money was in it and there money is now gone because FDIC is not around? What is going on with FDIC? I am 19 and starting to get into Economics.

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www.fdic.gov www.securagroup.com When I became Chairman of the FDIC in 1981, the FDIC’s financial statement showed a balance at the US Treasury of some billion. I decided it would be a real treat to see all of that money, so I placed a call to Treasury Secretary Don Regan: Isaac: Don, I’d like to come over to look at the money. Regan: What money? Isaac: You know . . . the billion the FDIC has in the vault at Treasury. Regan: Uh, well you see Bill, ah, that’s a bit of a problem. Isaac …

Sheila Bair, FDIC Chairman, explains the many concerns depositors have about their bank accounts due the recent bank failures. Depositors don’t have to worry if they are within the FDIC loan limits. She also talks about the FDIC loan modification program for IndyMac Bank customers. More info at: SCCRealEstateUncensored.com MiCasaMiDinero.com

The FDIC (Federal Deposit Insurance Corporation) will soon insure deposits up to 0000. What if you are fortunate enough to have more money than this? What if you are a trustee of a large estate, manage a pension fund or a foundation. Now there is a solution! A new program called CDARS (Certificate of Deposit Account Registry) will allow you to receive FDIC insurance on deposits of up to million. For more information contact [email protected]

I have questions about the FDIC and how much money it really has. I see in the news all the time these days that these banks and those banks are being helped. Since the FDIC is helping many of the failing institutions, will the FDIC have enough money to insure personal accounts? Is there a risk of the FDIC running out of funds and money to insure regular accounts that it usually insure? Since I do not know the extent of the FDIC’s assets (and have no clue where to find that information) – I kinda worry that personal bank accounts may be uninsured due to lack of funds by the FDIC. Is it possible that this could happen?