FDIC will go to congress for a massive bailout as many more banks fail in 2009-Lou
FDIC Faces up to $10B Whack on IndyMac Loans
New York Post
THE Federal Deposit In surance Corp. may not have fully washed its hands of IndyMac Bank.
Despite the agreement to sell of the once-troubled bank last week to a group of private-equity investors for $1.6 billion, the FDIC may be facing up to $10 billion in previously-unknown liabilities linked to mortgages IndyMac has sold to Fannie Mae, The Post has learned.
Such a haircut to the FDIC's $34.6 billion insurance fund would leave Sheila Bair's agency less able to deal with the number of bank failures expected this year.
Read Article Here:
http://www.nypost.com/seven/01112009/business/fdic_faces_up_to_10b_whack_on_indymac_lo_149620.htm
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