Daily outrage: Bank insurer forced to decide which horrible rescue option is best

WHO: Federal Deposit Insurance Corp.

WHAT: The FDIC is weighing several costly — and unprecedented — options to shore up its dwindling fund, which insures U.S. bank deposits. Each of these rescue tactics carries risks.

WHICH WAY? The agency could borrow billions from healthy banks, taking dollars out of the private sector. Imposing a special fee on the entire industry could push weaker financial institutions toward failure. Borrowing from the Treasury would be seen as another taxpayer-financed bailout. Making banks pay their regular premiums early wouldn’t deliver enough cash.

WHAT’S BEING DONE: The FDIC is expected to propose a solution — possibly combining two or more options — at a board meeting next week.

OpinionOther Opinion

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Diners at Teeth, a bar in the Mission District, on July 9, 2021. Teeth began using digital menus based on QR code technology in August. (Ulysses Ortega/The New York Times)
The football stadium at UC Berkeley, on Saturday, Sept. 26, 2020. George Kliavkoff, a former top executive at MGM Resorts International, took over the conference at the start of the month. (Jim Wilson/The New York Times)
What’s Ahead for the Pac-12? New commissioner weighs in

‘Every decision we make is up for discussion. There are no sacred cows.’

The sidewalk on Egbert Avenue in the Bayview recently was cluttered with car parts, tires and other junk. <ins>(Kevin N. Hume/The Examiner)</ins>
New surveillance effort aims to crack down on illegal dumping

’We want to make sure we catch people who are trashing our streets’

One of the 13 murals that make up “The Life of Washington,” at George Washington High School in San Francisco, April 9, 2019. Liberals are battling liberals over these Depression-era frescoes that have offended some groups. (Jim Wilson/The New York Times)
The story behind the mural controversy at San Francisco’s Washington High School

By Carol Pogash New York Times A California court this week ruled… Continue reading

Most Read