Saturday, October 24, 2009

Sheila Bair Delivers Special FDIC Video Message Commemorating 100+ Bank Failures This Year!

Madam Chairman Sheila Bair believes that all FDIC deposited monies under the specified limits will be 100% protected. However, Bair does not mention that the FDIC is broke! You can read the many previous articles on this blog by clicking this sentence. Even though the FDIC is backed by the full faith and credit of the United States government, the current government is saddled with debts and a huge FDIC bailout would further erode our economy.

Ms. Bair is trying way too hard to be convincing in this video. It reminds me of the movie "Airplane" when Leslie Nielsen was trying to convince the airplane passengers that everything was going smoothly with the flight. Fast forward to 4:43 below. I fully expected Sheila Bair's nose to start growing right before our eyes.

No comments: