Ignorant wishful thinking by DUmmy TwixVoy:
TwixVoy (1000+ posts) Mon Aug-17-09 01:24 AM
Original message
As of Friday August 14, 2009, FDIC is Bankrupt
From articles I have read recently with the latest round of bank failures this last Friday (which included the biggest bank to fall since WAMU) *technically* the FDIC has now run out of cash. Of course I say technically because the feds will certainly print more cash to cover it as needed.
Pretty damn scary though.... If the general public were to feel the FDIC will no longer be able to protect their deposits it could cause a major bank run nation wide, and that would be a complete disaster. This is one to keep an eye one.
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x6324544CreekDog (1000+ posts) Mon Aug-17-09 01:26 AM
Response to Original message
1. FDIC backed by full faith and credit of the USA
reading so many articles, you have not come across this?
Of course, DUmmy TwixVoy has never heard the phrase "full faith and credit", and would not understand it
anyway. DUmmy TwixVoy has no appreciation or understanding of American history.
DUmmy JDPriestly has something to get off his chest, whether it has anything to do with this thread or not.
His post is as stupid as a vestanumbers post, except you can understand what he's trying to say. It just doesn't
make any sense:
JDPriestly (1000+ posts) Mon Aug-17-09 02:47 AM
Response to Reply #2
6. Before the days of "privatization" the government won WWII. Since we privatized so much of our military service including now the provision of water, food and fuel, our military can't do a darned thing right. Actually, as one who is 66 years old, I recall that when the government did things without contracting so much of the work out to private firms, the government was much more efficient. Everything worked better -- especially considering we did not have the computer technology and other technology that we have today.
Right-wing extremists will tell you that the government cannot do anything right. I will tell them and you that private enterprise does not do anything right. We can thank our current mess to private greed.
The reason I brought this thread over is this suicide run, which I thought was pretty good:
no bad days (17 posts) Mon Aug-17-09 01:30 AM
"BAIL EM OUT! ????
Hell, back in 1990, the Government seized the Mustang Ranch brothel in Nevada for tax evasion and, as required by law, tried to run it. They failed and it closed. Now we are trusting the economy of our country, our banking system, our auto industry and possibly our health plans to the same nit-wits who couldn't make money running a whore house and selling whiskey!"
