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| Economy |
| Failed Banks May Get Pension-Fund Backing as FDIC Seeks Cash |
| 2010-03-10 |
| What could go wrong? The Federal Deposit Insurance Corp. is trying to encourage public retirement funds that control more than $2 trillion to buy all or part of failed lenders, taking a more direct role in propping up the banking system, said people briefed on the matter. Direct investments may allow funds such as those in Oregon, New Jersey and California to cut fees for private-equity managers, and the agency to get better prices for distressed assets, the people said. They declined to be identified because talks with regulators are confidential. |
| Posted by:Beavis |
| #2 "Seriously. Two Words. 'Gigli 2'. It will be a guaranteed box-office smash. Trust me. The public is dying to see Ben Affleck and J-Lo together again. You'll make a fortune!...Hello?...Hello?" |
| Posted by: Anonymoose 2010-03-10 17:52 |
| #1 Dead horse. Stick. If they had rechartered Hamilton's Bank of the United States for 20 years back in the fall of 2008 to absorb all these banks and institutions, taking not just the debt but the assets as well would we still be here with crap like this? You would have seen the Wall Street firms pay big bucks for a lot of the banks and the like and take the debt in order to get their hands on them rather than see the assets disappear for 20 years. We're killing little ones so that the Big Ones won't have competition in the future rather than consolidating our own Big One from the market. Instead we pass the assets on and suck up the debt in the continuing wave of FDIC closures. |
| Posted by: Procopius2k 2010-03-10 16:51 |