Lynsey

media type="file" key="LTB fireside.mp3" width="240" height="20"Lynsey Billet Pd.3 Federal Deposit Insurance Corporation My fellow American citizens, are you sick of having to hide your money in your homes? Are you tired of being wronged by the American government? When you need money, are you scrambling to remember where you hid it? Are you tired of misplacing your livelyhood? Well as of today, right now, you will no longer have to worry about your banks losing your money. As American citizens you will never again go to our banks and be told you cannot have your money. Now the government is getting involved. Before today, you were on your own to make sure your money was safe, and until October 29th, the most secure way to do that was through your banks. I know that on Black Tuesday everyone was infuriated when your bank told you they didn’t have the money that you put in. I’m here to introduce to you a program that will prevent that from every happening again. That program is the Federal Deposit Insurance Corporation, but it will be frequently referred to as the FDIC. The FDIC has been put in place by Congress to insure the safety of all of your deposits. The Federal Deposit Insurance Corporation is an independent deposit insurance agency established in order to maintain the public’s confidence in your banks. We want you to know for sure that your money is safe with americas banks and wherever else you may decide to leave your money. Its goal is to minimize the failures of banks and savings accounts. We will prevent the repetition of losses. No longer will you go to your bank, and have to worry about your money being misplaced. It will provide loans and rescue assistance to troubled institutions. So even if your money is in danger of being lost, we will step in. The FDIC will promote the safety of insured deposits. Our plan is to promote public understanding by providing the public with financial and economic information. From now on, you all will be informed. We will also test your banks. Twice a year, our government will go to your banks and other money bearing institutions and make sure everything is up to par with your deposits. It will provide coverage for deposits in national banks and state banks alike. So anywhere you decide to leave your money will be examined thoroughly by your government to make sure your money is safe and in tact. By creating this corporation, we will be able to insure your deposits of your hard-earned money in amounts up to $2,500. Now you will no longer have to worry about your money getting into the wrong hands. Works Cited "Federal Deposit Insurance Corporation." //Columbia// //Electronic Encyclopedia, 6th Edition// (2009): 1. //MAS Ultra - School Edition//. EBSCO. Web. 16 Dec. 2009. "Federal Deposit Insurance Corporation" //The Handbook of International Financial Terms//. Peter Moles and Nicholas Terry. Oxford University Press 1997. // Oxford //// Reference Online //. Oxford University Press. Northeastern Senior High School. 16 December 2009 []

"Federal Deposit Insurance Corporation (FDIC), 2008." //World Almanac & Book of Facts// (2009): 517. //Middle Search Plus//. EBSCO. Web. 16 Dec. 2009.