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Old 04-13-2009, 09:32 AM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,473 posts, read 13,488,886 times
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Anatomy Of A Bank Takeover : NPR

On a mid-January night, some 80 agents of the Federal Deposit Insurance Corp. pull into Vancouver, Washington....
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Old 04-14-2009, 07:27 PM
 
Location: New Jersey
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Unfort, I've been on the receiving end of a shut down and takeover.

Not a pleasant experience.
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Old 05-21-2009, 10:07 PM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,473 posts, read 13,488,886 times
Reputation: 6346
I thought this up when I saw the Florida Bank seized thread.

This is hilarious.... Read the aricle again and just replace "Bank of Clark County" with" California", "Umpqua bank" with "Wisconsin". and the word "bank" with "state".

On a mid-January night, some 80 agents of the Federal Deposit Insurance Corp. pull into California. Their rental cars are generic, their arrival times staggered. One by one, agents check into a hotel, each quietly offering a pseudonym to the guy at the desk.
They're here to take over California, which the FDIC has decided is insolvent. It's the agency's job to insure America's money supply and to step in when a state fails. The FDIC tries to keep the planning for its operations top secret, to avoid sparking a panicked run on the state.
At 9 o'clock on this particular Thursday night, FDIC agents have called another state nearby; Wisconsin. They tell executives there that Wisconsin has been selected to take over California. They order them not to tell anyone. Come to a meeting tomorrow at noon, they say, and we'll fill you in on everything you need to know.
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