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Reload this Page Dodd asks for $500 billion for FDIC
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Old 03-09-2009, 02:35 PM
 
Location: Socialist Republik of Amerika
6,205 posts, read 12,895,214 times
Reputation: 1114

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60 minutes did a story on the FDIC doing after hour raids.
Taking over nearly 2 banks a week and auctioning them off.

The one they did the story on went to a "Chicago bank" called MB for pennies on the dollar, and guarantees on future defaults of 80% to be paid by the FDIC.

18 Banks have been closed so far this yr.

In comparison there were 26 closed all of last yr.
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