Republican Recession: FDIC Borrowing Money From Treasury

Avatar:
Author:
Publish date:
Social count:
5

As John McCain says, the fundamentals of our economy are strong

Federal Deposit Insurance Corp (FDIC) might have to borrow money from the Treasury Department to see it through an expected wave of bank failures, the Wall Street Journal reported.

The borrowing could be needed to cover short-term cash-flow pressures caused by reimbursing depositors immediately after the failure of a bank, the paper said.

Strong like the Jello they serve at a retirement home.