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The US banking system on life support
Business Daily
The Importance of Calm
I got a text late on Saturday night asking whether I would be available for a call with the FDIC. The tone of that was, I'm presuming, quite serious. It came from a senior official at the FDIC who said they had already put into receivership two of the institutions and were looking at others. They needed an answer within an hour. And if I accepted the responsibility, I needed to be at my post by 7 a.m. next morning.
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