[Dan.Linehan]

Originally Posted by ThoughtAddict

FDIC quarterly report indicates a coverage ratio of $.89 for every $1.00, or 89%. Is there something I'm missing?

http://www4.fdic.gov/qbp/2008mar/qbp.pdf

Yes. The FDIC is lying. There is no separate fund set aside for insurance. Just more treasury debt.

FDIC Insurance Fund - It Doesn't Actually Exist - Seeking Alpha

Isaac: Don, I'd like to come over to look at the money.
Regan: What money?
Isaac: You know . . . the $11 billion the FDIC has in the vault at Treasury.
Regan: Uh, well you see Bill, ah, that's a bit of a problem.
Isaac: I know you're busy. I don't need to do it right away.
Regan: Well . . . it's not a question of timing . . . I don't know quite how to put this,
but we don't have the money.
Isaac: Right . . . ha ha.
Regan: No, really. The banks have been paying money to the FDIC, the FDIC has
been turning the money over to the Treasury, and the Treasury has been
spending it on missiles, school lunches, water projects, and the like. The
money's gone.
Isaac: But it says right here on this financial statement that we have over $11 billion
at the Treasury.
Regan: In a sense, you do. You see, we owe that money to the FDIC, and we pay
interest on it.