Why involve the Fed? Doesn't FDIC have existing funding mechanisms since 1933 or so?
Not an expert; just my personal model of history is being violated a little here.
I just don't understand why invoking the Fed's infinite line of credit is necessary. It comes across as a vote of no confidence in existing precedent and process, which somehow got us this far.
There's nothing unprecedented happening, so why is an unprecedented response needed?
Not an expert; just my personal model of history is being violated a little here.
I just don't understand why invoking the Fed's infinite line of credit is necessary. It comes across as a vote of no confidence in existing precedent and process, which somehow got us this far.
There's nothing unprecedented happening, so why is an unprecedented response needed?