FDIC

Many observers know the FDIC is broke. Let's further examine the FDIC website to fully understand the ramifications of a bankrupt FDIC.

http://www.fdic.gov/about/mission/index.html

Mission

The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation's financial system by:

* insuring deposits,
* examining and supervising financial institutions for safety and soundness and consumer protection, and
* managing receiverships.

The insured banks themselves--not the US government--fund the FDIC. Even if their bank fees are increased, there is no way those fees will cover the funds required to close failed banks into receivership. Too many banks will collapse.

Which means the US Treasury will have to step in and bail out the FDIC. Which means it is on the US taxpayer again to subsidize the failures of bankers gone wild. Notice how this all flows down?