[Dan40]

Originally Posted by cobra de capell

Actually, no one ever had to wait more than a few weeks, as long as they were within the $100,000 limit. Those that had to wait were over the $100,000 limit with some of them still waiting. Even if accrued interest brought the total deposit over $100K, that accrued interest is not paid out until the FDIC is able to sort through assets, sell those asset or get people to pay off those assets (loans). That's why you see $99,000 CD's advertised.

True, the FDIC only maintains a really small portion as a reserve.

garner major funding from the liquidated assets Hopefully, that was never the case - basically, when a bank is closed the FDIC takes over 100% of the 'assets' - assets in the banking world are loans, investments, cash, FF&E, etc. - it's doubtful that the selling of assets will produce a gain, normally that selling activity produces a loss to the FDIC.

Well that sounds like politicians planning to me.

Dan