Monday, May 9, 2011

A salute to Sheila Bair, outgoing FDIC Chairwoman

http://problembanklist.com/when-the-fdic-says-not-to-worry-its-time-to-worry/

http://www.fdic.gov/consumers/consumer/news/cnfall09/safe_place.html

All FDIC insured deposits are backed by “the full faith and credit” of the United States government.    Therefore,  according to the FDIC Chairman Bair, “In short, we cannot run out of money“. - Sheila Bair, FDIC Chairwoman, Fall, 2009

http://blog.cleveland.com/business/2009/03/fdics_chairman_warns_bank_depo.html

"Without substantial amounts of additional assessment revenue in the near future, current projections indicate that the fund balance will approach zero or even become negative."- Sheila Bair, FDIC Chairwoman, March, 2009

Looks like she covered all her bases.

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