FDIC Playing Hardball

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The FDIC is actively going after the directors and officers of failed financial institutions. Apparently fraud and malfeasance, coupled with ignorance and greed,are the predominant causes of action. This article not only reflects the FDIC's resolve to obtain compensation for the damages caused by the bank failures but,as a side note, demonstrates the dangers of serving on a board of a financial institution without having the expertise or the time to do so effectively.

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