Interesting story from NPR that details the events of an FDIC takeover of a bank in the Pacific Northwest. The bank had 100 employees and assets of $446 million… But the federal takeover kept 80 FDIC agents, about 50 bank staff, and 100 employees of another bank working round the clock for three days.
Henry E.
I always wondered what the process was for FDIC to take over a failed bank. Some pretty interesting stuff. This would be a GREAT read for a Bank in trouble. Even better for their employees.
Brad G.
Very interesting article, nice post Eric! Love the ‘spy movie’ mentality of the read.
Jerry B.
About a month ago 60 minutes showed an actual bank takeover. They followed the FDIC when the checked into a hotel under a false name to prepare for the takeover. They showed the actual take over of the bank at 6:00 pm. And, they showed the secret bidding for the banks assets. I think it was more of a PR for the public to have confidence in the FDIC, but it was interesting how the cloak and dagger worked. Maybe someone could post it on Banktastic.
Brad G.
Found the video, let’s see if I can embed it.
Watch CBS Videos Online