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Monday, October 06, 2008

FDIC’s Bair Expects Wachovia Deal Today

by Calculated Risk on 10/06/2008 03:28:00 PM

From the WSJ Real Time Economics: FDIC’s Bair: Wachovia Deal ‘Today’; Tougher Regulation Needed

Speaking Monday before the National Association for Business Economics, [Federal Deposit Insurance Corp. Chairman Sheila] Bair said the FDIC wasn’t driving the negotiations between Wachovia and its two suitors, Citigroup and Wells Fargo, though it is talking with all parties.
“We’re all working together with regulators…to come at a solution and outcome that serves the public interest and I think we will have one today,” Bair said.