This is an incredible positive action by the U.S. FDIC, which guarantees a certain amount of bank accounts -- which is a nice idea.

But due to so many bank failures they run out of cash tomorrow. And the scams proposed by some banks and Wall St. folks to solve this problem were outrageous -- such as just take money from taxpayers -- or borrow the money from the banks and pay the banks interest on it.

Thus -- the scam -- the largest of these banks would have been given free money by the government....then the government would borrow this money back and pay the banks for it!?

This soluntion, the banks just making prepayments to replinish the fund is the one that makes sense and not a rip off.

Of course, who knows what accounting tricks might get involved but at least this one thing seems right: not headline news but deals like this, terms of contracts, who pays what often has more powerful influences on our lives than the headlines.