How Vulnerable is the FDIC (and the US Taxpayer) Today?
In a fascinating report "Focus This Quarter" for Winter 2004, the FDIC looked in their crystal ball and saw 2006. It would have been comforting to see the FDIC accurately assess the difficulties, had they not appeared to encourage risky loan practices. The report specifically delt with HELOC concerns (Home Equity Line of Credit), but adressed concerns with the mortgage industry in general as well. They began the report with:
