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Published: September 30, 2008
Loss-sharing helps us
Wachovia Bank takeover
FDIC role costs taxpayers least.
Wachovia Bank takeover
FDIC role costs taxpayers least.
WASHINGTON — The FDIC 's agreement to share potential multibillion-dollar losses on Wachovia Corp. 's mortgage loans with Citigroup Inc. is a way for the government to ensure a solution at the least cost to taxpayers, banking experts say.
The government made similar deals with buyers of crippled institutions during the savings and loan crisis, and in more recent years, but never on this big a scale for an indiv...
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