FDIC in big trouble

[Subdivisions]

Earlier in the week the http://www.nytimes.com/2009/02/28/washington/28web-banks.html|FDIC announced that it would charge banks a new fee> to help increase their liquidity as the banking crisis continues. Today, after an uproar by the banks, the FDIC said they would http://www.google.com/hostednews/ap/article/ALeqM5hC5brhI-hs6RsOfo51R6rfvMU54QD96O8AI00">reduce the fees by half while http://www.bloomberg.com/apps/news?pid=20601103&sid=aGewvZuHR3dk&refer=news">asking for a running line of credit in the amount of $100 Billion PLUS http://online.wsj.com/article/SB123630125365247061.html">a massive injection of $500 Billion so that they can continue to cover losses to depositors of failing banks.

This just gets worse and worse by the day. Personally, on the heels of rumours that Wells Fargo could go under amid http://www.google.com/finance?q=wells+fargo">it's continuing stock slide and losses, Monday, I will be pulling all of my money out there.

Edited to add: Oh yeah, I forgot pose the question, where do you suppose Dodd is going to come up with the $100 Billion line of credit as well as the $500 Billion injection? A new bailout package?

Edited again:
Top Contributors
Senator Chris Dodd 2003 - 2008
http://www.opensecrets.org/politicians/contrib.php?cycle=2008&cid=n00000581

[xchrom]

1. wells fargo, huh? -- wow. nt

[azul]

2. Wouldn't be prudent.

Throwing good money down the rat-hole.

Hello corrupted congress, nationalize and re-sell these instruments of savings destruction, if you can cough back up the dirty money with a straight face.

[Vilis Veritas]

3. Is wells fargo, Woori Financial? Your link brings up Woori

I thought they were seperate entities.

V V

[Subdivisions]

5. You are absolutely correct. The ticker symbol is WFC, not WF. Link corrected in OP. n/t

[Vilis Veritas]

4. Wells Fargo is ranked 21 in the world.

Ahead of JP Morgan and others.

Looks like I may move some money around based on rankings...but I am starting to think that my safe and a shotgun might be the best bet...;-)