FDIC flashes SOS – 1,000 bank failures before recession is over

The ongoing recession will force the FDIC to tap $500 billion line of credit from the U.S. Treasury. It's only a matter of time. Maybe they can time it coming liquidity blast so no one notices.

FDIC not too far away from tapping into U.S. Treasury $500 billion taxpayer lifeline. Georgia leads the pack with 40 bank failures since 2008.

Source: mybudget360.com

Submitted by Bob