Unbeknown to most folks, Georgie revamped the FDIC in 2006 to include additional institutions into the depositors insurance fund (DIF) and after IndyMac failed, it is now down to $40B so it may require a bailout also before long. The media press should be searching for everything this administration has tinkered with because they have greatly weakened our safety nets by messing with the rules and funds. As I have feared from the beginning of Georgie's Reign of Terror the damage caused by his meddling misfits of mayhem could be far reaching more than advertised. I am recommending to all that they monitor their banks at the website http://www2.fdic.gov/idasp/main_bankfind.asp
Remember, that should a bank fail, expect up to 90 days to retrieve deposits!!! Good Luck Everyone....
Ray Fisherof NM9:38AM September 18, 2008
I don't think that higher taxes is necessarily a better way to reduce cash; maybe just close down the printing presses for a while - they have been working overtime. If we want to make something more valuable, why not just restrict the supply?
David Brookof GA8:25AM September 18, 2008
Due to too much cash sloshing around from tax rates too low over time, interest rates are too low and have been for a long time. If we had been operating at rates about 3 full points higher on all loans, bonds and treasuries, we would have a far more healthy economy.
I know this defies the "experts", but it's true nonetheless.
U.S. News Money takes a contemporary look at happenings in the financial world and aims to help young investors get going with their portfolios--or just sound cool at cocktail parties.
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Ray Fisher of NM 9:38AM September 18, 2008
David Brook of GA 8:25AM September 18, 2008
of 3:21PM September 17, 2008