The to-be-announced-today Toxic Asset program from the Treasury uses money from the FDIC to support the $1,000,000,000,000,00 fund.
Am I the only one in America who remembers the talking heads telling us just three weeks ago that the FDIC is in danger of going broke should a sufficient number of banks fail?
No. They upped the fees charged banks significantly to avoid this, or maybe just to get their hands on more private money.
Sounds like a good time to start stuffing money in the matress... in some other currency.