FDIC “Breathes Easier” With WaMu Crisis Resolved
The Federal Deposit Insurance Corp. chairwoman Sheila Bair said this morning that she is “breathing easier” now that the WaMu situation has been resolved by the federal government’s seizure of the bank and a selection of its assets sold to JPMorgan Chase & Co.
Bair told CNBC this morning that WaMu was the largest bank on the FDIC’s troubled-bank list. She said that while the number of troubled banks on FDIC’s watch list will rise from the 117 at the end of the second quarter, she implied to CNBC that no other bank of comparable size is on the ropes — at least not now.
The news is a dim bright light amid a gloomy week for banking, as the $700 billion Treasury bailout continues to flounder on Capitol Hill.
To view Bair’s interview with CNBC click here.
