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Friday, November 20, 2009

Fresh from the Desk of EWI

The FDIC Anesthesia Is Wearing Off
By Robert Prechter

Perhaps the single greatest reason for the unbridled expansion of credit over the past 50 years is the existence of the Federal Deposit Insurance Corporation, another government-sponsored enterprise created by Congress. The coming rush of bank failures is an outcome made inevitable the very day that Congress created the FDIC. Today, most banks are insolvent, and the FDIC is broke. Read More

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