Not sure all this testimony is going to make Congress any smarter, but it might keep them busy so they don't mess anything up worse: Former Federal Reserve Chairman Alan Greenspan's prepared statement FDIC Chairman Sheila Bair's prepared statement (Still amazes me that the most innovative, practical solutions are coming out of the FDIC) US Treasury Interim Secretary for Financial Stability Neel Kashkari's prepared statement … [Read more...]
FDIC Setting Down Roots in Orange County
October 22, 2008 By Leave a Comment
Looks like the FDIC anticipates a lot more clean-up ahead in Orange County, the former subprime capital of the world. FDIC is looking for 200,000 square feet of Los Angeles office space for a term of 3-5 years. That is in addition to the space they currently occupy in their newly acquired IndyMac Federal Bank. Maybe they should check out New Century's old offices. With senior regulators and bank cleaner-uppers shuttling in weekly from Washington DC and Dallas, maybe a few relocations could kick … [Read more...]