Forex news FDIC Chair Bair on the Wires
Posted by Basil Fayad on Thu, 09/04/2008 - 6:04pm in
- Says Credit downturn is far from over
-Does not expect to use the 30B line of credit with Treasury
-Expects banks to build reserves for several quarters to cover credit losses
-Confident that industry reserves are more than enough to cover failed bank losses
-Several dozen US banks are borderline "well capitalized"
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