Random Thought of the Day

Quote: odiousgambit

as I remember, it was a radio program on investing ... Ric Edelman possibly, and many years ago

as far as FDIC goes, I do believe it works like any insurance, but they are also 'the Feds' and can make a bank cut out bad behavior with Federal weight to it. Ultimately, full faith and credit is implied and for any imaginable scenario reliably there short of Armageddon, but I am not so sure that is spoken out in the rules.

It's right in the law that established the FDIC. It's not implied at all. It's explicit.

I was misled then if you are right. If your source is a bot, it is in agreement with google's AI... as I mentioned

I still picture the insurance process being normal, in other words the banks pay enough in to cover anticipated payoffs, with the US treasury a last resort. That does not contradict the contention, I'm 'just saying'

per googlebot


How the FDIC is Funded

• Bank Assessments: The FDIC is funded primarily through risk-based insurance assessments (fees) paid by the banks and thrifts it insures, not by tax dollars.
• Investment Income: The agency invests its collected funds in U.S. government obligations, earning interest that builds up the Deposit Insurance Fund (DIF).
• Fund Growth: In most normal economic years, the FDIC collects more in insurance premiums and interest than it spends on resolving bank failures, allowing the DIF to grow (reaching $161.1 billion by Q2 2026).

The Kelly Clarkson saga about trying to buy an expensive toy bird and being shown a cheaper version
The whole thing is dumb
The display bird that Kelly was interested in wasn't for sale and she was pissed at being shown a cheaper bird
Sheesh

There is a silver lining. Pablo Torre was let go by ESPN. He started a successful pod cast, Pablo Torre finds out. He was the first to get the security footage of this incident. Now he has gone to the store and actually bought the 2k bird shown to Kelly but she refused to buy. Pablo has a friend whose daughter died of a rare form of cancer. The bird is up for auction with all proceeds going to cancer research
Bids are up to 5k. You can own a peice of pop culture and help cancer research

https://www.yahoo.com/entertainment/celebrity/articles/just-found-why-pablo-torre-164837583.html