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FDIC Needs Bailout
The existing $30 billion credit line “provides a thin margin of error” to cover losses from bank failures, Bair wrote yesterday in a letter to U.S. Senate Banking Committee Chairman Christopher Dodd. Dodd, a Connecticut Democrat, plans to introduce legislation to raise the borrowing authority to a permanent level of $100 billion and temporarily increase it to $500 billion through Dec. 31, 2010.
The assessment was aimed at rebuilding a fund the FDIC uses to repay customers for deposits of as much as $250,000 when a bank fails. The fund, drained by 25 bank shutdowns last year, fell to $18.9…
Baby, You Can Drive My Car
Fine print disclosure: Driving my car may require $50 billion in cash to guarantee it reaches production.
Dear Diary,
There was a time, not so many months ago, when I would express my ideas regarding which equities or mutual funds were poised to rise, fall, or dance somewhere in between.
Unfortunately, the public misguidings, mishandlings, misinformation, and plenty of other “mis” words have been pervading our society to the point that I feel handcuffed in my ability to ponder much else.
That being said, the public (and more importantly, Oxbury’s readers) want explanations, answers, insight and/or a few reasonable ideas of not…
15Nov2008 | Oxbury Research | Comments Off | Continued
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