FDIC has Only $10.4B to Prevent Future Losses

According to a Q2 reports, the FDIC has a mere $10.4 billion left in its coffers to backstop future losses which is the lowest level of funding the agency has seen since 1992, when it was battling the S&L crisis. The New York Post reports that many analysts expect the FDIC to need almost $70B over the next three years to rescue failed banks.