Federal Deposit Insurance Corporation

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Bair: Credit Mess “Far From Over” 

Sep 05, 2008By

Saying that the current credit crunch is nowhere near done, Federal Deposit Insurance Corp. chairman Sheila Bair urged banks to raise loss reserves and raise capital. In remarks delivered Friday at a Florida Bankers Association event in Sarasota, Bair said banking results for the second quarter were “dismal,” and like to get worse going forward before they get better.

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