Debate Politics Forums - View Single Post - So, theres NO RECESSION, no DEPRESSION? OH YES THERE IS!

metreon · 07-16-08, 05:09 PM

I just read this from the AP:

"Shortly after the FDIC took over operations, Barr said most depositors were given immediate access to up to $100,000 in their accounts and 50 percent of any money beyond that threshold. Depositors with joint accounts or retirement accounts could immediately withdraw greater sums.

Depositors were given receivership certificates for any money they couldn't immediately withdraw and may be able to receive some of that money after the bank's assets are sold off."

So apparently this is being considered an important case with unanticipated consequence, and the FDIC is bending the rules to accomodate.

07-16-08, 05:09 PM	#25 (permalink)
metreon Student Join Date: Nov 2007 Last Online: 11-17-08 06:50 PM Posts: 195 Thanks: 5 Thanked 70 Times in 50 Posts Lean: Independent Gender:	Re: So, theres NO RECESSION, no DEPRESSION? OH YES THERE IS! I just read this from the AP: "Shortly after the FDIC took over operations, Barr said most depositors were given immediate access to up to $100,000 in their accounts and 50 percent of any money beyond that threshold. Depositors with joint accounts or retirement accounts could immediately withdraw greater sums. Depositors were given receivership certificates for any money they couldn't immediately withdraw and may be able to receive some of that money after the bank's assets are sold off." So apparently this is being considered an important case with unanticipated consequence, and the FDIC is bending the rules to accomodate.