Wachovia not liquidating funds


16-Dec-2017 09:46

In the case of Wa Mu, the FDIC had time to plan and implement an orderly resolution in advance.Wa Mu had been marketing itself early in 2008, and a number of institutions had conducted extensive due diligence of the institution.It had also been the subject of intensive FDIC supervisory attention for many months.Although the FDIC had only a short amount of time to market the institution, we were able to solicit bids from a number of potential acquirers because of the information they had already acquired directly from Wa Mu.Taken together, these financial disruptions had a rapid and highly adverse effect on real economic activity here and around the world. economy are now recovering from the immediate effects of the crisis, it has caused widespread damage to communities across the nation.The events led to unprecedented government intervention to restore order to the financial markets, including the bailouts of a number of large financial institutions both here and abroad. Millions of families have experienced job loss, home foreclosure, and reduced savings and retirement funds.Hundreds of community banks have failed and many more remain troubled.

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But the most severe blow to the financial markets came from the bankruptcy on September 15, 2008 of the 0 billion investment bank Lehman Brothers, which was immediately followed by the collapse and bailout of the

But the most severe blow to the financial markets came from the bankruptcy on September 15, 2008 of the $600 billion investment bank Lehman Brothers, which was immediately followed by the collapse and bailout of the $1 trillion insurance corporation American International Group (AIG).

Bair, Chairman, Federal Deposit Insurance Corporation on Systemically Important Institutions and the Issue of "Too Big to Fail" before the Financial Crisis Inquiry Commission; Room 538, Dirksen Senate Office Building September 2, 2010 Chairman Angelides, Vice Chairman Thomas, and Commissioners, I appreciate the opportunity to testify on behalf of the Federal Deposit Insurance Corporation (FDIC) on how systemic risks can be managed and mitigated in the wake of the financial crisis using the new tools provided by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The fall of 2008 was marked by unprecedented levels of mortgage defaults, extreme risk aversion in financial markets and, finally, generalized illiquidity in global money markets.

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But the most severe blow to the financial markets came from the bankruptcy on September 15, 2008 of the $600 billion investment bank Lehman Brothers, which was immediately followed by the collapse and bailout of the $1 trillion insurance corporation American International Group (AIG). Bair, Chairman, Federal Deposit Insurance Corporation on Systemically Important Institutions and the Issue of "Too Big to Fail" before the Financial Crisis Inquiry Commission; Room 538, Dirksen Senate Office Building September 2, 2010 Chairman Angelides, Vice Chairman Thomas, and Commissioners, I appreciate the opportunity to testify on behalf of the Federal Deposit Insurance Corporation (FDIC) on how systemic risks can be managed and mitigated in the wake of the financial crisis using the new tools provided by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The fall of 2008 was marked by unprecedented levels of mortgage defaults, extreme risk aversion in financial markets and, finally, generalized illiquidity in global money markets.

trillion insurance corporation American International Group (AIG). Bair, Chairman, Federal Deposit Insurance Corporation on Systemically Important Institutions and the Issue of "Too Big to Fail" before the Financial Crisis Inquiry Commission; Room 538, Dirksen Senate Office Building September 2, 2010 Chairman Angelides, Vice Chairman Thomas, and Commissioners, I appreciate the opportunity to testify on behalf of the Federal Deposit Insurance Corporation (FDIC) on how systemic risks can be managed and mitigated in the wake of the financial crisis using the new tools provided by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The fall of 2008 was marked by unprecedented levels of mortgage defaults, extreme risk aversion in financial markets and, finally, generalized illiquidity in global money markets.