This 60 Minutes broadcast gives us an inside look at what happens when the FDIC takes over a failed bank.
60 Minutes excerpt:
A lot of people are worried about their banks these days. While devastated giants like Citigroup get bailed out again and again and again, many smaller banks are failing. The federal agency that takes over unsound banks is the Federal Deposit Insurance Corporation – the same people who guarantee depositors won’t lose their money.
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