Word: depositers
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...widely trusted but mostly mysterious agency known as the Federal Deposit Insurance Corporation has ever had a public face, it was probably that of Lydia Lobsiger, the happy and relieved East Peoria, Ill., widow who in 1934 was the first American to get her little pile of savings back from the feds after a terrifying run on her local Fon du Lac State Bank. Now, almost 75 years later, the FDIC has been busy projecting a newer face, and it belongs to Sheila Bair, a 54-year-old lawyer from Kansas...
...sale") of the country's sixth largest bank, Washington Mutual, and helped negotiate the forced sale of superregional Wachovia bank to Citi (only to see the deal, in an embarrassing turn, break down when Wells Fargo snatched up Wachovia instead). She got Congress to boost the ceiling on deposit insurance temporarily from $100,000 to $250,000. And in a move to bolster the FDIC's finances, she wants to double the average premium that banks pay to have FDIC insurance...
...stability far greater than in the 1930s--or even the '20s. The kinds of "runs" on savings institutions that we watch Jimmy Stewart battle every Christmas season are all but unimaginable, thanks in large measure to the psychological reassurance provided by a landmark New Deal innovation, the Federal Deposit Insurance Corporation (FDIC), whose authority to guarantee bank deposits has recently been expanded. And today's federal outlays make up nearly 20% of GDP, with state- and local-government spending adding another 10%--weighty ballast in the face of economic bad weather...
...Expect a Divine Bank Deposit Rabbi Nevins cautions, "When I ask God for help, I'm not asking for an extra miracle, for a great hand to drop a wad of cash on my mortgage." Such supernatural interventions may occur, he says, "but I just don't know how to prove that." Says Ali: "God accepts our prayers, but God acts based on his wisdom." Says Martin: "If you imagine that God is like a cosmic gum-ball machine, you have to start rethinking your image of God. The help may not come as quickly or in the exact...
...other significant parts of the new plan are funded from other sources, and won't add to the taxpayer tab. The Federal Deposit Insurance Corporation (FDIC) will guarantee certain bank accounts - those mostly used by businesses for payroll and other expenses - above the current $250,000 limit. The FDIC will also guarantee lending between banks by creating a new kind of debt. The FDIC is calling this program a "Temporary Liquidity Guarantee...