CRIMES AND CORRUPTIONS OF THE NEW WORLD ORDER NEWS (mparent7777_1) wrote,
CRIMES AND CORRUPTIONS OF THE NEW WORLD ORDER NEWS
mparent7777_1

Billions in tax deposits uninsured

Take this story and mulitply it times every state in the union. Think all those pensions. This nightmare is about to explode.


Billions in tax deposits uninsured

State, local accounts secured, so loss unlikely

Thursday, July 31, 2008 3:22 AM

By Bill Bush

THE COLUMBUS DISPATCH

Your bank account is insured up to $100,000, but you still have a lot at stake in the event of a major failure: hundreds of billions of state and local tax dollars in accounts nationwide that are not insured by the Federal Deposit Insurance Corp.

Losses aren't likely, says a state official, but government treasurers are keeping a close eye on the funds.

Franklin County currently has $300 million of taxpayer money in banks; the city of Columbus easily has tens of millions; and local school districts hundreds of millions more, officials said.

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