FDIC

[lamboguy]

the FDIC has $53 billion in reserves for banks that go under. the original number for the bail out of INDYMAC was $10 billion, it got revised down to $5 billion and today it got rerevised to between $6+$8 billion. now if we use the number $7 billion and subtract that off the $53 billion, it leaves you $47 billion.

INDYMAC is actually pretty small, what happens when a few more go under, and by their own admission there will be more to follow?

the FDIC said they are now raising their insurance rates to the banks to cover the present and future losses. they claim it will take them only 10 years of increased premium to cover the potential losses.

[PaceAdvantage]

INDYMAC is actually pretty small, what happens when a few more go under, and by their own admission there will be more to follow?Pretty small? It is the third-largest bank to fail in the history of bank failures....

[lamboguy]

there are big ones out there that don't look to good to me, such as washington mutual, citizens , soverign, just to name a few off the top of my head!

and furthermore i would like to bet you a cup of coffee that when the final figures come out it will cost more than the original $10 billion to bail out indymac.

[wonatthewire1]

To get a feel for how some are doing - an independent observation anyway

http://www.bankrate.com/brm/safesound/select.asp?insttype=0

[lamboguy]

thanks for the link. after playing around with it i see there are alot that are rated very weak.

how can these banks be so weak? they have licenses to print money!