FDIC prepares for bank failures

02/26/2008 | Wall Street Journal (free content), The

The Federal Deposit Insurance Corp. is bracing for a slew of bank failures brought on by the credit crunch. The government agency is recruiting 25 retirees that have experience dealing with insolvent financial institutions. FDIC also wants to hire an outside firm to handle mortgages for insolvent banks.

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Wall Street Journal (free content), The

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