Word: fdic
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...remaining investor group is bidding only for a small part of Amoskeag, but the Federal Deposit Insurance Corporation (FDIC) may not split up the package, The Globe reported...
...FDIC will review the bids and declare the winners within about a month, a source said yesterday. At that time, the FDIC will likely declare the banks failures and then hand them over to the new owners...
...exciting -- or stressful -- as overseeing the turbulent banking industry for the past six years. Since he became chairman of the Federal Deposit Insurance Corporation in 1985, William Seidman has seen more than 1,000 U.S. banks fail, and the number of institutions on the brink continues to grow. The FDIC, which guarantees the nation's bank deposits, has had to pay out more than $24 billion during Seidman's tenure and is running low on reserves. Congress is working on legislation to replenish the funds. No wonder Seidman, 70, has decided to step down when his term ends in October...
...members of the Bush Administration. He was criticized by some for moving too slowly as head of the Resolution Trust Corporation, the government agency charged with managing and selling off foreclosed properties in the wake of the savings-and- loan mess. The likely candidate to succeed him at the FDIC: Federal Reserve director of banking supervision William Taylor...
CREDIT: Source FDIC...