Lowest reserves since 1993.
The fund held $52.4 billion at the beginning of 2008. One year and 25 bank failures later, the fund held $18.9 billion.
So far this year, 14 banks have failed, draining another $1.7 billion from the insurance fund.
If money cannot be collected quickly enough from the industry, the FDIC could be forced to borrow money from taxpayers by taking a loan from the Treasury Department.
Some banking trade groups favor that approach, because they say that a sharp increase in the assessment on banks would overly burden a struggling industry, taking away money that banks otherwise could use to lend. Banks would then repay the money gradually and as the industry's situation improved.
The taxpayer always has more money to give away to the banking industry. The purpose of the taxpayer is to support industries that sponge money off of taxpayers.
At least that is how things seem to work.