Nov 22 2009
FDIC Broke and Selling Real Estate: How $13 Trillion in Assets is Protected by no Deposit Insurance Fund. FDIC Selling Properties to Replenish Fund and Collecting Early Fees.
The FDIC, that enigmatic seal of security on your bank entrance, is virtually bankrupt. The FDIC provides deposit insurance to over 8,000 banks that collectively hold $13 trillion in assets. We can question what those assets are really worth since many of these institutions hold $3 trillion in commercial real estate loans and defaulting residential […]