Another installment of some cool Planet Money stories:
The FDIC-- the effin' FDIC--is almost out of money. You know how every bank has that little sign out by their front door saying that they are FDIC insured? So that your first $100k (well, now $250k) is insured? Yeah, well they are almost out of money.
It turns out that they have an unlimited credit line with the Treasury, but the sheer magnitude of bank failures as a result of this financial crisis is making that the thud at the bottom of the bottomless pit seem like not such an off-the-wall sound.
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