The Federal Deposit Insurance Corp. was appointed receiver of Columbian Bank of Topeka, Kan., which had $752 million in assets and $622 million in deposits as of June 30.
...
It was the ninth failure this year of an FDIC-insured bank.
That compares with three failures in all of 2007. More banks are in danger of failing this year, agency officials have said.
The FDIC estimated the resolution of Columbian Bank will cost the deposit insurance fund around $60 million."
Nah. The American taxpayer is required to bail out the FDIC. Then the FDIC will increase the fees it charges to pay back the taxpayer (ideally).
mrandersuun
New Member
posted: Sep. 8, 2008 @ 11:59p
Wow people, know what you're talking about before you open your mouths. Taxes don't fund the FDIC. -from fdic.gov:
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 8,494 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.
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