Funny. I thought I heard the government tell me that all the banks passed the Stress Tests and that the economy was doing Green Shoots.
So then why should this program need to be extended?
(Bloomberg) -- The Federal Deposit Insurance Corp. said it may temporarily extend a program guaranteeing accounts that don’t pay interest as it moves to maintain confidence in the banking system while weaning companies from government aid.
The FDIC board today voted to seek comment on a six-month extension of the program, which protects non-interest paying accounts exceeding the $250,000 insurance limit. The move would extend the safeguard, introduced in October as part of the Temporary Liquidity Guarantee Program, through June 2010.