The Federal Deposit Insurance Corporation (FDIC) announced today that effective immediately they will cease all banking operations nationwide.

“The simple truth of the matter is that we just couldn’t deal with this many banks failing all at once,” said FDIC Chairman Sheila Bair. The government agency provided so-called deposit “insurance” for bank deposits up to $100,000.

Created in 1933 during the Great Depression, the FDIC was intended to be a government-issued security blanket that would restore confidence in the banking system among the American people. Unfortunately, the agency was never granted enough power or funding to handle more than one or two minor bank failures per year.

“We never really expected this degree of crisis,” explained Bair. “I mean, who could have possibly predicted…

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In a press conference from Jerusalem on Monday, Iranian President Mahmoud Ahmadinejad announced the stunning findings of a team of Iran’s best genealogists: Ahmadinejad is a sixteenth Jewish.

A stunned silence fell upon the roughly 200 members of the press, most of whom expected the revelation to be followed by an explosive tirade against Israel. Instead, Ahmadinejad calmly explained that he now realizes that his previous “annihilate Israel” platform may have been unnecessarily harsh, and that he intends to fully embrace his newly-discovered Jewish heritage.

“In the past, when I said that ‘anybody who recognizes Israel will burn in the fire of the Islamic nation’s fury,’ I was speaking from an outsider’s misunderstanding of what it means to be Jewish,” said Ahmadinejad as he donned a traditional kippah. “It turns out that the Zionist regime really isn’t that bad after all.”

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After months of silence, a video released from al-Qaeda on Monday announced that the struggling organization will close 150 terror cells worldwide, including in Seattle.

The unnamed spokesman in the grainy video cited skyrocketing insurance costs as the primary reason for closing the Seattle cell. “Health, dental, vision, life, automobile, home… it adds up fast,” said the figure.

Most of the local terror cell jobs will be outsourced to Iraq and Pakistan. The move has upset local dedicated al-Qaeda operatives.

“I left my job at Microsoft because I believed in this organization’s three values: Death to America, establish caliphate, and taking care of the martyrs with full vision and dental,” said Shoreline al-Qaeda member Ahmed Moqed…

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