CHART OF THE DAY: The FDIC Is Going Broke

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The banking crisis is supposedly over, but outside of the big firms, the number of FDIC problem-institutions has continued to grow. Also, as you can see, the FDIC is now careening towards broke. At the end of March, it had just $13 billion in assets, or .27% of the total accounts it insures. With more bank failures on the way — they’re announced every Friday — it’s time for an FDIC bailout.

chart, FDIC

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