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What it is – How it works
Staff Reporters
The Federal Deposit Insurance Corporation (FDIC) preserves and promotes public confidence in the US financial system by insuring deposits in banks and thrift institutions for up to $250,000 (through December 31, 2009); and by identifying, monitoring and addressing risks to the deposit insurance funds; and by limiting the effect on the economy and the financial system when a bank or thrift institution fails
Mission
The FDIC is an independent agency created by the Congress that maintains the stability and public confidence in the nation’s financial system by insuring deposits, examining and supervising financial institutions, and managing receiverships.
Vision
The FDIC is a leader in developing and implementing sound public policies, identifying and addressing new and existing risks in the nation’s financial system, and effectively and efficiently carrying out its insurance, supervisory, and receivership management responsibilities.
The Website
The website www.FDIC.gov has these tabs-of-interest:
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Deposit Insurance
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Consumer Protections
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Industry Analysis and Analysis
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Regulations and Examinations
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Failed Bank Information
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Institutional Asset Sales
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Breaking News and Events
Assessment
This site is an excellent resource for physicians, financial advisors, medical executives and all investors in this time of national economic crisis:
For more information:
Federal Deposit Insurance Corporation
Consumer Response Center
2345 Grand Boulevard, Suite 100
Kansas City, MO 64108-2638
Fax Number (703) 812-1020
Conclusion
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Filed under: Accounting, Financial Planning, Investing, Taxation | Tagged: FDIC |
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70-year-old Bernie Madoff was a former NASDAQ stock market chairman; wasn’t he?
Enough said!
Lincoln
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FDIC [Public or Private?]
I just watched CBS’s “The Early Show.” On it, FDIC Chairman Sheila Bair said any additional steps to prop up the banking system will depend in part on a test to determine how the largest banks would fare in a more dire economic condition.
Bair said that a “stress test” for some 20 of the largest banks will help federal policymakers determine “what type of additional capital investments the government may need to make.
“If the test shows that banks need more capital, and are unable to raise it privately, then the government might have to act”, she said.
Acre
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Oh-No!
Senate Banking Committee Chairman Christopher Dodd moved to allow the Federal Deposit Insurance Corporation to temporarily borrow up to $500 billion from the Treasury Department, The Wall Street Journal reported Friday.
Link: http://www.msnbc.msn.com/id/29543959
Mr. Bill
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Hi Mr. Bill,
Now, it seems that Annette Nazareth doesn’t want to work for the Treasury, as Deputy, either.
While at the SEC, didn’t she create the voluntary programs intended to supervise large investment banks like Goldman Sachs, Morgan Stanley, Bear Stearns and Merrill Lynch. But, the programs were canceled in September as the financial crisis began and the remaining investment banks converted themselves into holding companies.
So, much for ethics and volunteerism; eh!
Ohhhhhhhhhh!
George
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