Sheila Bair Video

So, What’s it mean?
I’m guessing it’s designed to calm everyone down as we pass that “100 banks seized” number and prevent any possible bank runs. After all, she does say that it’s unlikely your bank will have to be taken over. Should have put some emphasis on the YOUR, one of MY banks already bit the dust. She did place emphasis on what happened in the S&L crisis with 500 some odd institutions having been taken over, so we aren’t close to that number yet, but financial institutions tend to be quite a bit larger now. 5 times larger? I don’t know.

But, FDIC is backstopped with the Treasury, who is also backstopping all the really big banks and some major automobile companies and Fannie Mae and Freddie Mac, so we’ll be fine. Or probably be fine.