The Federal Deposit Insurance Corporation, was created in 1933 to protect against bank failure by insuring deposits in eligible banks.
It is entitled to borrow up to $3 billion from the U.S. Treasury.
The FDIC has not yet had to use that privilege.
- Who was the first American-born child of English settlers? Virginia Dare, born in 1587 to English settlers of the "lost colony" of Roanoke Island. The entire colony disappeared; Dare's death date is unknown.
- Did the Pilgrims eat Turkey at the first Thanksgiving celebration at Plymouth Rock? At the three-day festivities celebrating survival through the winter, many foods were served, but turkey was not one of them. The menu included: venison, duck, goose, seafood, eels, white bread, corn bread, leeks,…
- Is it true that Manhattan Island was bought from the Indians for $24? What Peter Minuit gave the Manhattoe tribe was a package of trinkets and cloth valued at 60 guilders, roughly equivalent to $24.
- Who founded the city of Chicago? A black man from Haiti named Jean Baptiste Pointe Du Sable (1745-1818) founded the city of Chicago. In 1772, Du Sable founded a settlement called Eschikagou on the north bank of the Chicago…
- Who was the founder of Detroit? Antoine de la Mothe Cadillac, a French explorer and administrator, founded Fort Pontchartrain du Detroit in 1701. The Cadillac automobile is named for him.
- Was Pittsburgh named after someone named Pitt and what did he have to do with Pennsylvania? Pittsburgh was named for William Pitt, even though Pitt never set foot in Pennsylvania. Pitt's actions as a British war minister during the French and Indian War led to the city's founding. He…