Thursday, August 28, 2008

FDIC Prepares for More Bank Failures

by Bill McBride on 8/28/2008 04:28:00 PM

From Bloomberg: FDIC Adds Office Space in Dallas, Ready for More Bank Failures

The Federal Deposit Insurance Corp. is preparing to sign a five-year lease to add five floors of space at its Dallas regional office as the agency prepares to increase scrutiny of failing and troubled U.S. banks.

The federal agency ... will add 125,000 square feet to the 185,000 square feet it rented last year ... That agency will add about 300 staff at the building, including some of the 69 retirees it is bringing back to help handle the increased workload, said spokesman Andrew Gray.
Dallas is the headquarters of the agency's Division of Resolution and Receivership, the unit that handles failed banks.
Someone is hiring.