FDIC bank fund in the red until 2012.. What does this mean..?

[AlfredB1979]

Originally Posted by sterlinggirl

Nobody said you had to keep US dollars in your mattress. My little stack of loonies has done a lot better than my MMA lately.

That loon, toon, and CAN $10 I kept might suit me well after all.

Nice!

[BankREO]

Originally Posted by Brook24

NEW YORK (CNNMoney.com) -- The government insurance fund designed to protect consumer bank deposits will likely stay in the red through 2012, Federal Deposit Insurance Corp. chief Sheila Bair said Wednesday.

Testifying before members of the Senate Banking Committee, the nation's top commercial bank regulator stressed that her agency was taking immediate steps to replenish the dwindling fund. But she said those efforts would not put the rescue fund in the black until a little more than two years from now at the earliest.

FDIC fund in the red until 2012 - Oct. 14, 2009

If something in the economy went horribly wrong, would the FDIC guarantee be worthless?

What is mean is that we will issue the debt needed to guarantee those deposits because if we don't it would cause a banking panic and as another poster above stated "time to get a bigger mattress".