Let's decide that this is just a speculation, not a fact. Every insurance fund has cash on hand less than potential liability. That's the generic idea of any insurance.

>Looks like you are correct on this, it wasn't clear last night. However, the FDIC still does not have enough cash to save all the failing banks without getting bailed out themselves.
>
>Bob
>
>>JPMorgan picks all WM accounts so FDIC will not get involved; no drain at all.
>>
>>>WaMu failed last night, they are selling off the deposits and branches, but another giant drain on the FDIC, which will surely buckle under the weight of the coming bank defaults unless they pull off the big bailout.
>>>
>>>Bob
>>>
>>>>http://www.bloomberg.com/apps/news?pid=20601170&refer=home&sid=amZxIbcjZISU