Tuesday, Sep 22, 2009

Tired of the government bailing out banks? Get ready for this: officials may soon ask banks to bail

New york times: F.D.I.C. May Borrow Funds From Banks

Under the law, the F.D.I.C. would not need permission from the Treasury to tap into a credit line of up to $100 billion. But such a step is said to be unpalatable to Sheila C. Bair, the agency chairwoman whose relations with the Treasury secretary, Timothy F. Geithner, have been strained.
“Sheila Bair would take bamboo shoots under her nails before going to Tim Geithner and the Treasury for help,” said Camden R. Fine, president of the Independent Community Bankers. “She’d do just about anything before going there.”

Posted by mark @ 09:35 AM (538 views)
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