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View Diary: If the Euro fails. (282 comments)

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  •  Credit union funds are insured (0+ / 0-)

    by the NCUA to $250,000, and in another Daily Kos diary in the last month a poster noted that the NCUA is in far more solid shape than FDIC.

    The problem with FDIC is that the banks are supposed to contribute to it on an ongoing basis; well before 2008 they decided everything had been going so well, the funds so seldom drawn on, the chances of needing FDIC to be fully funded so dim, that they no longer contributed or made only token payments.

    Besides, if there should be a 'run' on the FDIC, where would the money come from to stop or contain it?

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