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Recent Bank Failures Too Much For FDIC

Sep. 30, 2009
Federal regulators say the rash of bank failures that are depleting the deposit insurance fund will likely cost about $100 billion over the next four years. To shore up the fund, the FDIC board has voted to require banks to prepay three years worth of premiums. The banking industry is generally...
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Lori Anne Madison, 6, competes in Scripps National Spelling Bee
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Lori Anne Madison, 6, of Woodbridge, Virginia, spells out the letters in her word as she competes during the opening round of the Scripps National Spelling Bee, May 30, 2012, in National Harbor, Maryland. Madison, the youngest known qualifier in the history of the contest, correctly spelled the word "dirigible*", a lighter-than-air aircraft, to advance. UPI/Mike Theiler