Bair Says Insurance Fund Could Be Insolvent This Year
05/03/2009 § Leave a comment
“A large number” of bank failures may occur through 2010 because of “rapidly deteriorating economic conditions,” Bair said in the letter. “Without substantial amounts of additional assessment revenue in the near future, current projections indicate that the fund balance will approach zero or even become negative.”
GET OUT WHILE YOU STILL CAN!!