Sheila Bair stated that WMB was more than likely to fail so they decided to seize it. Since when is "more than likely" criterion for seizure. The administration wants to make it the criterion. I thought that the FDIC was for failed banks not for likely to fail banks. Besides the OTS is the legal body for these decisions and they stated that the bank was well capitalized and solvent. Latter they must to have been coerced into down grading WMB to a 3 triggering the pre-arranged theft. The OTS thus covered there scheme with proper procedure.
News 
Market Data 
Discover 
AI
