so we've been told that the financial system is on the brink of ruin....
so we've been told that the only way to prevent financial collaspe is for taxpayers to foot the bill by way of a bill nicknamed the BailoutBill...
so the Republic for which we stand has told us there is no other solution...
so........
Who is the FDIC?
answer....
The Federal Deposit Insurance Corporation (FDIC) preserves and promotes public confidence in the U.S. financial system by insuring deposits in banks and thrift institutions for at least $250,000; by identifying, monitoring and addressing risks... and by limiting the effect on the economy and the financial system when a bank or thrift institution fails.The FDIC receives no Congressional appropriations – it is funded by premiums that banks and thrift institutions pay for deposit insurance coverage and from earnings on investments in U.S. Treasury securities. With an insurance fund totaling more than $49 billion, the FDIC insures more than $3 trillion of deposits in U.S. banks and thrifts – deposits in virtually every bank and thrift in the country.
the above FDIC info courtesy of
and if need be Congress can grant additional power to the FDIC.
so exactly why and what is the BailoutBill....
so exactly why and what else haven't we been told....
so exactly who and where is this $7oo billion earmaked for and to....
see:
see also:
http://www.brasschecktv.com/page/441.html (Tomaca , thanks for sharing)
hmmm...
2 b continued
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