Fusion Magazine Excerpt: Is the FDIC doomed?

The following is an excerpt from the March issue of Fusion Magazine.




It’s like money in the bank.

That’s always sounded quite comforting, especially if you actually have some in one. And as long as your bank’s window displays the trusty little Federal Deposit Insurance Corporation (FDIC) logo, your money is insured up to $100K. So you’re as good as gold, right?

Think again.

With the current sub-prime mortgage crisis creating a record number of foreclosures nationwide, a looming recession, and not to mention a $9 trillion national deficit, just how would the FDIC make good on it’s guarantees now that large banks are finding themselves in trouble?

First off, it’s important to understand how the FDIC works and just how much it has in reserves. Most people figure it is just another taxpayer-funded program. But it receives no Congressional appropriations. It actually functions as a mandatory insurance policy for banks, which requires them to pay into its fund currently totaling more than $49 billion.  

But in a sense, it’s the bank’s customers that are indirectly paying into the fund through their bank fees and service charges. Banks are certainly not paying for the fund at the expense of their profits . . .

Why does Glenn think that? Read more of “Is the FDIC doomed?” in this month’s issue of Fusion magazine. Subscribe Now.


Don’t know what Fusion magazine is?  It’s Glenn’s magazine of course. 

Every month in Fusion magazine we deliver Glenn’s personal thoughts on issues ranging from controversial news topics to the latest pop-culture exploits. With 10 issues a year, Fusion is the only magazine where you can find the perfect combination of cutting edge humor, intelligent commentary and stories that touch the heart. 

Sen. Ted Cruz: NOBODY should be afraid of Trump's Supreme Court justice pick

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Sen. Ted Cruz (R-Texas) joined Glenn Beck on the radio program Wednesday to weigh in on President Donald Trump's potential Supreme Court nominees and talk about his timely new book, "One Vote Away: How a Single Supreme Court Seat Can Change History."

Sen. Cruz argued that, while Congressional Democrats are outraged over President Trump's chance at a third court appointment, no one on either side should be afraid of a Supreme Court justice being appointed if it's done according to the founding documents. That's why it's crucial that the GOP fills the vacant seat with a true constitutionalist.

Watch the video below to hear the conversation:

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Sen. Mike Lee (R-Utah) joined Glenn Beck on the radio program Wednesday to talk about why he believes President Donald Trump will nominate Judge Amy Coney Barrett to fill the Supreme Court vacancy created by Justice Ruth Bader Ginsburg's death.

Lee, a member of the Senate Judiciary Committee that will consider and vote on the nominee, also weighed in on another Supreme Court contender: Judge Barbara Lagoa. Lee said he would not be comfortable confirming Lagoa without learning more about her history as it pertains to upholding the U.S. Constitution.

Watch the video below to hear the conversation:

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This week on the Glenn Beck Podcast, Glenn spoke with Vox co-founder Matthew Yglesias about his new book, "One Billion Americans: The Case for Thinking Bigger."

Matthew and Glenn agree that, while conservatives and liberals may disagree on a lot, we're not as far apart as some make it seem. If we truly want America to continue doing great things, we must spend less time fighting amongst ourselves.

Watch a clip from the full interview with Matthew Yglesias below:


Find the full podcast on Glenn's YouTube channel or on Blaze Media's podcast network.

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'A convenient boogeyman for misinformation artists': Why is the New York Times defending George Soros?

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On the "Glenn Beck Radio Program" Tuesday, Glenn discussed the details of a recent New York Times article that claims left-wing billionaire financier George Soros "has become a convenient boogeyman for misinformation artists who have falsely claimed that he funds spontaneous Black Lives Matter protests as well as antifa, the decentralized and largely online, far-left activist network that opposes President Trump."

The Times article followed last week's bizarre Fox News segment in which former House Speaker Newt Gingrich appeared to be censored for criticizing Soros (read more here). The article also labeled Glenn a "conspiracy theorist" for his tweet supporting Gingrich.

Watch the video clip below for details:


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