The FDIC has solicited comments from bankers and investors on the massive "Legacy Loan Program"
Must read.
h/t CR of course
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What's $24 billion of potential losses among friends? If you want to know what a zombie bank is, the foreclosure situation in California is textbook:
I agree with ScienceBloglings Orac and Mike Dunford: Robert K
It would seem to me that if Obama is serious about reaching out to Republicans, keeping Sheila Bair on as head of FDIC is a no-brainer. Yet Treasury nominee Geithner does not support her. I can't figure out what Bair did wrong (and I'm not being snarky).
If a major bank goes bankrupt, are corporate accounts insured?
Like university payroll accounts?
The answer appears to be: yes, up to $100,000 per TAX ID number.