FDIC adds 54 more banks to its 'problem list' The list will continue to grow over the next 9 months to a year. I am betting on it.
Also of interest is the fact that the FDIC raised the limits of bank a/c's they'll cover from $100k to $250K. Not sure if this has been noted but it is of interest.
What I don;t understand, and this may not be specifically related to this thread, is how Citigroup gets the 25 billion to back bad assets but the other fortress banks don't (as of right now) have the same backing.. Does that not leave an unfair advantage to Citigroup and if so, how can any other bank compete? Specidically BofA.. I doubt they would have been so gung ho about acquiring Merril (which was negotiated at 28/sh lmfao) if they knew then what they know now - TARP wont be used to back toxic assets unless you are Citigroup.
Another question i have is the whole "Cosumer Loan" bailout the media is hyping up lately. Isn't this new "bailout" essentially just backing the derivatives? I feel that people will get the wrong idea about the government throwing money at the student loans car loans and other consumer loans thinking it will in one way or another ease their debt pain when it's the dervitaves and the illiquid securitized consumer loans that are the real target of the fed's tarp sword.