Bank bailout problem: No easy answers

Full Story atmoney.cnn.com

NEW YORK (Fortune) — It’s time for Sheila Bair to stop worrying about bailout politics and hit Uncle Sam up for some dough.

Bair is the chairman of the Federal Deposit Insurance Corp., the federal agency that administers the insurance fund that stands behind the savings of millions of Americans.

The fund is paid for by the banks that benefit from it, but it has been depleted by a wave of bank failures that isn’t expected to abate any time soon.

The FDIC board is scheduled to meet Tuesday to discuss how to raise money to restock the fund. There aren’t a lot of good options.

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