Wednesday, March 11, 2009

60 Minutes Video Of Bank Takeover

Interesting 60 Minutes video offering a peek behind the scenes of an FDIC takeover. I particularly like the comments towards the end by the CEO of MB Financial about the ultimate benefit of taking out the weak banks and cleaning up the system. Granted, if I were being paid upfront to take over a bank and then insured on 80% of all future losses, I'd be pretty upbeat too.

Link to video on 60 Minutes site

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