Former FDIC official: No need for an FDIC bailout

09/18/2009 | CNBC

Talk of another 1,000 banks failing and taking the Federal Deposit Insurance Corp. down with them is unrealistic, said John Bovenzi, a former deputy to the chairman of the FDIC. "There could be hundreds of bank failures," he said. The federal bank regulator has more than enough resources to cope with the challenges facing the banking sector, Bovenzi told CNBC.

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