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It's set up as an insurance to which the banks pay premiums to cover the losses. The $50B fund exists to prevent the american public from having to step up ever
by Tuna-Fish 13y ago
It's set up as an insurance to which the banks pay premiums to cover the losses. The $50B fund exists to prevent the american public from having to step up every time, however, it is backstopped by full faith and credit.
- pyalot2 13y agoSo "full faith and credit" if congress republicans and democrats can agree, that's all fine then.