FDIC News

   Well the FDIC seems to have an issue with someone questioning there actions.  Well the video is question talks about one transaction and this is the response that the FDIC felt it needed to respond with.  Clearly this is a touchy issue.  With the railroad job that Senator Chucks put on Indymac Bank I can understand why the FDIC tacks such a strong stand.  I thought they would have came out with a Sara Palin blast before something like this. 

  Below is the press release from the FDIC and the link to the video.  Watch the video and read the press release and see what you think for yourself.  Keep in mind that George Soros and Obama are tight.  Soros gave tons of money to the Obama campaign to purchase some…….good Government?

Video Link – http://www.thinkbigworksmall.com/mypage/archive/1/29027

 

FDIC Press Releases


FDIC Provides Additional Information on its Loss Share Agreement With OneWest Bank

February 12, 2010

 

FDIC Director of Public Affairs Andrew Gray said, “It is unfortunate but necessary to respond to blatantly false claims in a web video that is being circulated about the loss-sharing agreement between the FDIC and OneWest Bank. Here are the facts: OneWest has not been paid one penny by the FDIC in loss-share claims. The loss-share agreement is limited to 7% of the total assets that OneWest services, and OneWest must first take more than $2.5 billion in losses before it can make a loss-share claim on owned assets. In order to be paid through loss share, OneWest must have adhered to the Home Affordable Modification Program (HAMP).

The producers of this video perpetuate other falsehoods. The FDIC has not requested to borrow money from the Treasury Department. Indeed, we continue to be funded by the banking industry through assessments, not by taxpayers as claimed in the video.

This video has no credibility. Regardless of the personal or professional motivations behind its production, there is always a responsibility to be factually correct and transparent. The FDIC made available a fact sheet on the day that the sale of IndyMac was announced that details the terms of the contract. It’s too bad that the creators of this video opted to premise it on falsehoods.”

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