From Clusterstock:

That the FDIC had to raise its estimate for coming losses to $100 billion makes it plenty clear that the state of American banking is far from healthy. But what's scary is not the eye-popping number, it's the lack of insight anyone has into bank balance sheets.

Jonathan Weil at Bloomberg hits the nail on the head…

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An epic boondoggle gets worse: The FDIC is broke

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