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And the FDIC is backstopped by the Fed. They have a $100B line of credit there. In the WaMu case actually no money was lost by anyone - and they didn't even to
by arcticbull 4y ago
And the FDIC is backstopped by the Fed. They have a $100B line of credit there.
In the WaMu case actually no money was lost by anyone - and they didn't even touch the Bank Insurance Fund. The Office of Thrift Supervision took control of WaMu and sold it JPMC.