View Single Post
Old 09-17-2008, 10:38 AM  
kenny
Confirmed User
 
Industry Role:
Join Date: Mar 2002
Posts: 7,245
Quote:
Originally Posted by wiggitywack View Post
I thought I heard the other day the FDIC has only $50 billion on hand.
One or 2 big depost banks like Washington Mutual goes down, they could be out of cash.

Then if other banks fail, the treasury would have to simply print more money to honor insured cash on those accounts. The result of that would be the dollar would crash and inflation would take off. Hoping none of this happens, but who the fuck knows now.
exactly

what I said in more detail
__________________
7
kenny is offline   Share thread on Digg Share thread on Twitter Share thread on Reddit Share thread on Facebook Reply With Quote