by John Galt
November 6, 2009
Greetings sports fans one and all! It’s time for the Sheila Bowl this week and flushing and swirling financial institutions getting ready to take the final plunge and the ignorant who kept deposits over $250,000 in the banks getting ready to take that death defying dive into the blue (hopefully not yellow) swirling water at the bottom of the bowl as they went above the FDIC deposit insurance guarantees….
Here’s your pregame show, starting with an update of the DIF funding since the failures of August 21st with the balance left from the DIF fund based on the data on June 30th:
Ouch. Almost $8 billion in the hole so Sheila had best collect those fees from the banks before they fail and get that into the bank asap. Maybe, just maybe, should should quadruple the fees on banks without branches, you know, like Goldman Sachs ya know? Well, let’s tune in for tonight’s action because one thing about our neck of the woods in Florida:
She could shut half of them down and still have a boatload of insolvent institutions….