Truck Load Rates Halt 8 Week Slide 2.0

I mean, I'm no math wiz, but it seems like they had the funds on hand for both. And then some.

 

FDIC insured institutions. Not the FDIC.

On Monday’s broadcast of “CNN News Central,” Senate Majority Whip Sen. Dick Durbin (D-IL) stated that the $13 billion loss that the FDIC is taking on the seizure of First Republic Bank is “$13 billion in taxpayers’ money” that the federal government put into First Republic Bank to ensure that it “did not fail and cause some recession in this economy.”

 

Durbin is talking out of both sides of his mouth. The FDIC account is funded by rates charged to the bank. Like an insurance company EXCEPT instead of being private, like progressive or all state, it is owned by the Government (tax-payers) and in order to be a bank you HAVE to join. So is it Tax-payers money, yes. Did the Tax-payers fund the account, no.

 

I understand all that you are saying and how it’s supposed to work. My guess is someone as ranking as Senate majority whip probably has more insight then you do on how depleted the fdic fund currently is. Especially, since it’s not politically favorable for him to tell the truth but seems to have done so.

We won’t know the fdic funds status until the next report sometime in June which will assess the first 3 months of this year. And then September which will cover right now.

My thoughts, and seems to be the thoughts of others in Congress, is that tax payers are the bridge in the funding gap. Not to mention, when the next bank goes tits up.

 

This popped up on my news feed this morning.

It will be 'really tough' for trucking companies to stay in business if things don't pick up by Memorial Day, says an American trucking association (msn.com)

 

I left home last Wednesday and actually got an ok load out of Omaha up to MN. After I unloaded Thursday I spent the rest of the day around the office, had to sign a new lease and get a 6 month inspection on my truck. Friday I rolled the dice and took a load out of MN going down to Yuma. Delivered that Monday and was planning on going back to Eloy to get the truck polished. But a load popped up going to Boise that was 2.55 a mile for 18k pounds. Delivered that Wednesday and picked up a customer load back to Sioux City. Had 4032 miles in 7 days when I delivered that yesterday. Currently holed up in a motel in MN doing a restart so I can load out on Monday again. It was the best week I’ve had in a long time.

 

No doubt the bank runs are just starting...

 

$400 for a days worth of work.. Any takers ?

 

Wow, where do I sign up?

 

It better be 1 pallet going across the street.