The head of the Federal Deposit Insurance Corporation (FDIC) has stated, according to Bloomberg (BBG), that the United States is prepared to handle the potential failure of a major Wall Street bank. This assurance comes amidst concerns over the stability of large financial institutions. The FDIC's readiness plan includes the possibility of transferring assets to other banks, such as handing them over to JPMorgan for free, while retaining toxic loans. Additionally, the New York Federal Reserve has expressed its readiness to support key financial figures, specifically mentioning a willingness to bail out Mr. Moynihan, indicating a comprehensive strategy to mitigate any fallout from a major bank's collapse.
NEW:🇺🇸 US prepared for potential failure of major Wall Street bank, says FDIC Oh boy... https://t.co/Uzq6DTOVCp
The head of the Federal Deposit Insurance Corp. says the US would be prepared to handle any collapse of a major Wall Street bank https://t.co/McU3SOy5IB
🔴 NEW YORK FED: WE ARE READY TO BAIL MR. MOYNIHAN OUT. https://t.co/UGoTFTtTq6
FDIC Chief Says US Ready If Big Wall Street Bank Ever Failed: BBG ... ready to hand it over to JPMorgan for free while the FDIC keeps all the toxic loans.
FDIC CHIEF: US IS READY IF BIG WALL STREET BANK EVER FAILED
🔴 FDIC CHIEF: THE US READY IF A BIG WALL STREET BANK EVER FAILED.