List
of articles tagged as FDIC
Citigroup buys Wachovia banking operations
Tuesday, September 30, 2008 www.mid-day.com
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Business
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NEW YORK: In the latest byproduct of the widening global financial crisis, Citigroup Inc will acquire the banking operations of Wachovia Corp in a deal facilitated by the Federal Deposit Insurance Corp (FDIC).
Citigroup will absorb up to $42 billion of losses from Wachovia's $312 billion loan portfolio, with the FDIC covering any remaining losses, the government agency said yesterday.
The deal
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NEW-YORK
Citigroup
FDIC
Wachovia
JP-Morgan
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US sees its biggest ever bank-bust
Saturday, September 27, 2008 www.mumbaimirror.com
(
Business
)
Washington/New York: As the debate over a $700-billion bank bailout rages on in Washington, one of United States’ largest banks - Washington Mutual Inc - has collapsed under the weight of its enormous bad bets on the mortgage market.
The Federal Deposit Insurance Corporation (FDIC) seized WaMu, as it’s more popularly known, on Thursday and then sold them for $1.9 billion to JPMorgan Chase & Co -
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Washington
New-York
JPMorgan
FDIC
US
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