Academic

THE COUNTRY?S IN THE VERY BEST OF HANDS: F.D.I.C. May Borrow Funds From Banks. ?Tired of the gover?

By Glenn Reynolds

THE COUNTRY’S IN THE VERY BEST OF HANDS: F.D.I.C. May Borrow Funds From Banks. “Tired of the government bailing out banks? Get ready for this: officials may soon ask banks to bail out the government. Senior regulators say they are seriously considering a plan to have the nation?s healthy banks lend billions of dollars to rescue the insurance fund that protects bank depositors. That would enable the fund, which is rapidly running out of money because of a wave of bank failures, to continue to rescue the sickest banks.” Upside: The plan is “strongly supported by bankers and their lobbyists!”

Full post as published by Instapundit.com on September 22, 2009 (boomark / email).