On a day when AIG stock jumped 30% this sobering news came out of the banking sector: "With bank failures rising, the FDIC fund fell 20 percent to $10.4 billion in the second quarter as U.S. banks lost $3.7 billion".
-Associated Press report See Interview with FDIC Chairperson Sheila Bair: http://plus.cnbc.com/rssvideosearch/action/player/id/1228675704/code/cnbcplayershare Then came this :1,000 Banks to Fail in next 2 years" says Bank Executive http://plus.cnbc.com/rssvideosearch/action/player/id/1228461315/code/cnbcplayershare WOW!, It's a good thing they raised the FDIC credit line from $30B to $500B in May. And THEY say it's supposed to rain all weekend!
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