Quote:
Originally Posted by Bill Bumface
Well that's great news if they can pull it off without taxpayers footing the bill. Any idea how the FDIC would cover this? Is it just that much in their self interests to keep things from falling apart to pony up and prevent a bunch of potential future claims if more banks fail?
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I don't know the exact details, but it's probably a combination of things. They had something like $175B in deposits and $210B in assets, so there's room to lose value while still mostly covering depositors (shareholders and most unsecured creditors are getting nothing).
It sounds like they're auctioning off what they can, and then the FDIC will cover the difference. And then any losses from that will be made up through a special assessment against financial institutions.