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The FDIC’s ‘Red’ Menace

A few hours ago, news came across the transom that the government insurance fund that protects consumer bank deposits “slipped into the red,” after some 50 banks collapsed between July and the end of September this year. Such headlines are more than a little disturbing for the average bank account-holder. We all know by now that the Federal Deposit Insurance Corporation (FDIC) is the government entity that guarantees the safety of the money we’ve deposited into its member banks.

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