Monday, Aug 11, 2008
Very interesting - Banks to pay more.
Bloomberg: FDIC Fund Strained by Bank Failures May Have to Raise Premiums
The failure of IndyMac Bancorp Inc. and seven other banks this year may erase as much as 17 percent of a government insurance fund and raise premiums for all banks, from Franklin National of Minneapolis to Bank of America Corp. ``It's going to be a bloody, expensive mess for the banking industry,'' said Bert Ely, president of Ely & Co. Inc., a bank consulting firm based in Alexandria, Virginia. ``Healthy banks are paying for the mistakes made by failed banks.''
Posted by tyrellcorporation @ 02:01 PM (213 views) Add Comment
1 Comment
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1. Eternal Sceptic said...
The real question we would like answered is : Which banks are healthy? The one under the mattress?