in Summerland

“When the FDIC runs out of cash, it simply goes to the Treasury for more, as we saw in 2009. There’s three ways to pay for that,” Mr. Antoni said. “First, the FDIC can increase its insurance premiums charged to banks. But those fees that finance the FDIC are passed entirely on to customers. The second option is for the Treasury to just give the money to FDIC instead of loaning it, in which case the taxpayer is directly responsible for it. Lastly, the Fed can finance the expense by just printing the money, which causes inflation, which is a hidden tax.”

TRAFFIC, CRIME AND FIRE BLOTTER

Police respond to reported fight

SANTA BARBARA — Santa Barbara police responded early Sunday morning to a report of a fight involving two groups around 500 State St., where two victims sustained stab wounds. Officers found two men in the downtown area involved in the fight after responding at 3:16 a.m., said Sgt. Ethan Ragsdale, the police department’s public information officer. Sgt. Ragsdale said one victim was found in the first block of East Cota Street and a second in the first block of East Ortega Street. Paramedics transported both victims to Santa Barbara Cottage Hospital, where they were reported to be stable but in critical condition.

Santa Barbara police detectives are investigating the incident. “It is not known at this time if this altercation was gangrelated,” Sgt. Ragsdale said.

— Dave Mason

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VOL. 167 NO.