Does the FDIC Have Enough Cash to Cover All These Failures?

Lately there has been speculation that the FDIC is going to run out of money and need a public bailout. In a recent interview, FDIC Chairman Sheila Bair said, "We have never lost a penny of insured deposits and that will continue…Assuming we did have an Armageddon situation which I think is not going to happen, we are back by the full faith and credit of the United States Government."

That makes the FDIC sound like it is on pretty solid ground. But what the FDIC will do is start charging banks higher premiums for participating in the FDIC–perhaps as soon as October. And how do you think banks are going to pay for those higher premiums? You've got it–they will no doubt look to increase fees they charge you. Click here to read about 5 secret ways your bank may be trying to take advantage of you.

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