FDIC Hires 140 to Deal with Bank Failures

As thousands of Bankers and Brokers on Wall Street get tossed out of their offices, at least one sector of the economy is booming: federally mandated bank regulation. As the financial industry continues to roil from the collapse of Bear Stearns, the FDIC reports that it will hire 140 new regulators to deal with a possible uptick in bank failure. “We want to make sure that we’re prepared,” said FDIC Chief Operating Officer John Bovenzi.

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