[TheWriterTX]

The FDIC's own annual reports show that they were broke as a joke for 2009 and 2010. They are only showing a profit now because the Treasury snapped up a bunch of their bad debt in the form of a bond swap.

They slushed over 300 failed backs through the system.

See my tag-line. Any who suggests we aren't in a long-wave contraction is an idiot.

[ConservativeMind]

Not at all. The FDIC had banks prepay several years of premiums and worked out different arrangements for dealing with bad assets with individual buyers.

When multiple years of payments come in early, it makes a HUGE difference. The FDIC is doing well now and building back reserves.