[PeterPrinciple]

While these loss projections are subject to considerable uncertainty, under these projections and current assessment rates, the fund should become positive this year and reach 1.15 percent of estimated insured deposits in 2018.

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Sometimes I have to reread my own posts in amazement.

Did you get this folks, FDIC won't be solvent until 2018 under the best projections.

[21twelve]

“Did you get this folks, FDIC won’t be solvent until 2018 under the best projections.”

And what would happen in 2012 if a whole bunch of U.S. Banks went on a “Holiday”. Do you think the FDIC will cover your ATM withdrawal or auto-payed mortgage, electric, etc. bills the next day?

Well, maybe in a week.

Probably the next week.

For sure by the third week.

I mean, it wouldn’t be a whole MONTH before I could buy groceries again. Could it!?

(Note to self, pick up more canned goods tomorrow.)