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F.D.I.C. May Borrow Funds From Banks

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From Washington to Wall Street to Washington. The money will soon come full circle. The New York Times reports that regulators are considering a plan to have healthy banks lend billions of dollars to the FDIC, so that it can continue to rescue the sickest banks. “It’s a nice irony,” said Karen Shaw Petrou, managing partner of Federal Financial Analytics, a consulting company, told the paper. “Like so much of this crisis, this is an issue that involves the least worst options.” Bankers and their lobbyists like the idea because it is more attractive than the alternatives: yet another across-the-board emergency assessment on them, or tapping an existing $100 billion credit line to the Treasury.
SOURCE:   New York Times