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In short, David Barr states that the depositors already saw 50% of funds returned, where the FDIC has been paid back nothing.
Question...Does ALLSTATE make sure it can take your house if it has to replace your auto?
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Exactly Lisa. I talked with an agent of the FDIC in Dallas last week and was assured by him that the FDIC does not take any of the sold assets to repay the insurance fund. The cost to the fund is absorbed like any other insurance company. Depositor's are first in line for payback from the sale of assets is what I was told. David Barr tells a different story. Who can we believe? The saga continues....
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