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Tag Archive: banks

Information scarce on bids for failed banks


The Federal Deposit Insurance Corporation (FDIC) is making less information available to the public about how it is dealing with the rising number of bank failures in 2010. Over the last year, the agency has failed to post a complete list of bids on 41 percent of the deals it makes with other banks to take over failing institutions--and what information it does provide is more limited than before.

Before May 2009, the FDIC would provide, upon request, the names of all entities placing bids on failed banks and how much each of them bid for the bank in question ...

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Incoming finance committee chairman relies on finance campaign contributions


Contributions to Rep. Spencer Bachus (2009-2010) The House Republican Steering Committee voted on Tuesday to name all committee chairman for the incoming Congress. Their choice to head the House Financial Services Committee, the committee in charge of overseeing the financial sector and the government's implementation of new financial reforms, happens to be the member of Congress most reliant on contributions from the financial sector. Contributions from the finance, insurance and real estate sector accounted for 62.5 percent of all contributions received by Rep. Spencer Bachus, the incoming House Financial Services Committee chairman, during the 2010 election cycle. These contributions amounted to $1.23 million out of a total $1.97 million that Bachus' campaign and political action committees raised.

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CFC (Combined Federal Campaign) Today 59063

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