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FDIC Might Need A Bailout Soon

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Your friendly neighborhood Federal Deposit Insurance Corporation -- the nice people who insure consumers' bank deposits -- has been having a sort of a rough time lately, what with all the banks constantly going broke. The insurance fund was pretty heavily depleted over the past year, thanks to horrific failures like IndyMac which cost the FDIC more than $10 billion. And it's not like we have seen the end of bank failures, nosir!


So. Chris Dodd would like to make it easier for the FDIC to borrow money from the Treasury Department -- as much as $500 billion through the end of 2010. Right now the FDIC's line of credit with Treasury stands at $30 billion. Is this at all horrifying, that the FDIC, which has not borrowed any money at all from the Treasury for more than a decade, might need half a trillion dollars in the next two years?

Nah. They just need "flexibility," says chairman Sheila Bair.

Remember how at the beginning of the Iraq War all these skinflint libtards were complaining that the war cost us a billion whole dollars every month, and that seemed like a lot of money? Five hundred billion is the new billion. This FDIC money will look like NOTHING by December 2010.

Bill Seeks to Let FDIC Borrow up to $500 Billion [Wall Street Journal]

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photo by Dominic Gwinn

There was a time, a few months ago, when everyone had written off Elizabeth Warren. Well, not me, because I am a fabulous genius, but lots of other people. The "very reasonable" talking heads on all the various news channels, the kind of people who used to say things like "Oh, we'd like universal health care too, but 'the people' will never go for it!" but who definitely did not actually want universal health care for any reason, and even the Trump campaign. Though, to be fair, the Trump campaign didn't think Trump had much of a chance of winning in 2016 either.

But now, as more and more people hear her speak, hear her plans, hear what she wants to do and how she wants to do it... Elizabeth Warren is rising up in the polls. She's a contender. In the most recent Quinnipiac poll, she was closing in on Sanders for second place nationally, and in California and Nevada polls, she's in second place.

And now, according to a report from Politico, the Trump campaign is now scrambling and panicking and... stalking her?

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Spinal Tap - Gimme Some Money

Some dick is suing your Wonkette! If you are able, will you please send money?

1. Pick "just once" or "monthly."

2. Pick an amount, like say "all of the money."

3. Click "paypal" if you are paypal or "stripe" if you are not paypal.

4. MONEY.

5. Carry on with your day, and with new posts below!

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