In an appearance before the Financial Crisis Inquiry Commission, regulators testified about the why there was disparate treatment in the resolution of Washington Mutual Inc. and Wachovia Corp.

The Federal Deposit Insurance Corp.’s chairman said the FDIC had known for months that WaMu was in trouble.

But with Wachovia it didn’t know until very late in the game how dire the situation was.

In addition, Wachovia was deemed systemically important.

More: continued here

Related Content

Subscribe to the post comments feeds or Leave a trackback