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Republican Recession: FDIC Borrowing Money From Treasury

August 27th, 2008 5 Comments

green jelloAs John McCain says, the fundamentals of our economy are strong

Federal Deposit Insurance Corp (FDIC) might have to borrow money from the Treasury Department to see it through an expected wave of bank failures, the Wall Street Journal reported.

The borrowing could be needed to cover short-term cash-flow pressures caused by reimbursing depositors immediately after the failure of a bank, the paper said.

Strong like the Jello they serve at a retirement home.

Posted in Economy, Real Estate |
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5 Responses to “Republican Recession: FDIC Borrowing Money From Treasury”

  1. Scratch says:
    August 27, 2008 at 12:20 pm

    Maybe you should look up the word “fundamentals.” If the fundamentals were not strong, there’s no way we’d be weathering the mortgage crisis like we are.

  2. Jaim says:
    August 27, 2008 at 8:10 pm

    “there’s no way we’d be weathering the mortgage crisis like we are”

    Like the thousands of Americans who lost their homes?

    I absolutely love it. The more Republicans try and argue that the economy is doing great, the more they demonstrate how out of touch they are with middle and working-class Americans.

    “B…b…but me and Buffie were in the Hamptons just this weekend! I didn’t see any homeless people! The recession is just mental! People need to stop whining!”

    And this, more than anything, is why 7-McMansion McCain is doomed.

  3. Bruce Henry says:
    August 27, 2008 at 8:40 pm

    You would think so. But ordinary Americans seem to suffer under the delusion that, if only they work hard and play by the rules, they too will be rich one day. Forget about the fact that that’s not how McSameasf*ckingbush got rich.
    That’s why he is not “doomed” at all.

  4. Jaim says:
    August 27, 2008 at 9:03 pm

    Maybe in 2000 but no, not in 2008. My last job was pretty low on the salary-scale. People making 20-30K/year, especially those with kids, have no illusions about getting their heads above water some day.

    Granted, this doesn’t mean they’re going to vote for Obama, but they sure as shit won’t vote for Bush’s third term.

    At least, that’s the message the Dems needs to keep swinging on.

  5. Grants Pass Homes says:
    October 10, 2008 at 7:01 pm

    I’m not sure what bothers me the most…watching what we’ve built get eaten away….or paving the way out for the people that got us here. Very sad time! All we can do is stay the course. I’m confident that we will see good and possitive changes from all this!

    Happy to be here!!