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Is The FDIC Broke? How Could That Be?

Reblogger
Real Estate Agent with Sand Dollar Realty Group, Inc. BK627826

All these bailouts just continue to make me so happy.  This article is pretty unbelieveable.

Original content by Bob Hertzog

IS THE FDIC BROKE?  HOW COULD THAT BE?

All of the networks are "buzzing" today, saying that the FDIC is going to ask banks to pre-pay their FDIC Insurance Premiums for the next three years.  This will bring in roughly $15 Billion for each year that is "pre-paid".  Why are they taking such a drastic action?  They say that they need to "shore up" their FDIC Fund, due to the large amount of bank failures this year, and they don't want to borrow from the Treasury, as this would appear to be yet another "bank bail-out" in the American Taxpayer's eyes.  Click Here to read the MSNBC Article that just came out.

Where did all the money go, you may ask?

Loss Share Agreements!  (Ok, not all of it, but A WHOLE BUNCH OF IT)

What is a Loss Share Agreement?  

Click Here to read the blog I wrote just over 1 week ago to find out.  

I actually got an email today from someone who wrote a blog on the same subject after reading my blog.  She decided to take it down out of fear.  She found out that the FDIC had visited it 30 times in 2 days, and she got nervous.  I guess they're a little concerned about this kind of information getting out to the general public.  Can't say I blame them.  I'm not internet savvy enough to figure out how to determine who has visited my blogs, but maybe someone can tell me?  

The case that my blog revolves around will be featured in a major business news publication at the end of this week.  I can only hope that it raises the awareness of the American Public.

Finally, American Taxpayers are going to find out about the shady "sweetheart deals" that the FDIC has been cutting with the likes of none other than George Soros (you know, the MoveOn.org guy).  Maybe our fearless leaders will now take notice of where all of this money is going (but I'm not holding my breath)!

 

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Comments (2)

Bryant Tutas
Tutas Towne Realty, Inc and Garden Views Realty, LLC - Winter Garden, FL
Selling Florida one home at a time

I read this article earlier and have to say it all sounds pretty scary. It's getting carzier and crazier out there.

Sep 29, 2009 10:42 AM
Bob Hertzog
Summit Home Consultants - Phoenix, AZ
Designated Broker

Hello Rob,

Thanks for doing your part to spread the word!

Bob

Sep 30, 2009 12:55 AM