Tuesday, June 16, 2009


The government agency which largely oversees the banking industry, the Federal Deposit Insurance Corporation (FDIC) has just announced maximum bailout amounts for the banking industry. The headline reads “Government Support for Financial Assets and Liabilities Announced in 2008 and Soon Thereafter ($ in billions).” And the total is $13.7 trillion dollars.

If you go to: http://www2.fdic.gov/SDI/main4.asp You will learn something about the health of the banking industry, many months after the financial crisis began.

By far the largest amount is for “derivatives.” Derivatives are nothing more than a side bet but, a bet nevertheless.

Ordinary people will suffer nosebleeds at the altitude of these numbers. However, what will be clear to most anyone is the continuing lack of oversight.

Farm milk price suffers from the same problem and at the same time the best government can do for dairy is MILC.

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