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FDIC May Need Its Own Bailout

Agency lacks funds to insure present level, much less proposed raise to $250K

By Harry Kimball,  Newser Staff

Posted Oct 2, 2008 1:49 PM CDT

(Newser) – The Federal Deposit Insurance Corporation has quietly and effectively done its job safeguarding Americans’ money since 1933, but the financial crisis will thrust the agency into the spotlight, reports Big Money, Slate’s financial offshoot. The bailout bill increases the amount the FDIC insures, from...   Read full story »

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