Humble Start for FDIC Shift… WSJ article by Ruth Simon & Peter Lattman
To read the article, please click HERE.
An FDIC spokesman said the retroactive rescue “would provide a more-even treatment of uninsured depositors since the onset of the crisis.” In response to depositor complaints, the agency has simplified some of its rules on insurance coverage for account beneficiaries. A spokesman for OneWest Bank, formed by private-equity investors who bought IndyMac assets and operations from the FDIC last year, declined to comment. … Of course they declined to comment.