Saturday, September 13, 2008

Bankers shocked by "The Mythical FDIC fund"

Bankers are apparently shocked (literally "SHOCKED" I tell you) to find out that the FDIC Insurance Fund is nothing more than an "accounting fiction"!How did they finally "discover" this? Well, a recent (8/27/08) document entitled "The Mythical FDIC Fund" (see PDF from link in destination article) written by Bill Isaac, former FDIC chairman.

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