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FDIC Quandary Could Stick U.S. Taxpayers With the Tab for the U.S. Credit Crisis
The “Bailout Bens” are at it again.
I’m talking, of course, about U.S. Federal Reserve Chairman Ben S. Bernanke, who’s clearly decided it will be “bailouts for all.”
Why is this problematic? Federal Deposit Insurance Corp. Chairman Sheila C. Bair last week said that the government agency “may need to tap into [short-term] lines of credit with the Treasury for working capital,” but “not to cover our losses,” The Wall Street Journal reported.
After all, why hit up Treasury when you can have the taxpayer cover your losses?
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