Sheila Bair, Chairwoman of the Federal Deposit Insurance Corporation, has said that the FDIC faces running out of funds to cover insurance deposits. Now, it must be said that the FDIC won't fail to have money unless everything completely collapses. The government will see to it that the FDIC is funded. However, it is important to realize that at the current pace of bank failures due to deregulation, tens of billions, even trillions and tens of trillions are going to causes that are unproductive versus the societal investments that could have been made decades ago that would have been paying off for many years now rather than what society is now facing that is a global depression.
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