Who watches the watchmen? - W.C. Varones

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8.13.2009

Who watches the watchmen?

Jr. Deputy Accountant does.

She caught a bunch of people at the FDIC googling "blackrock and colonial." For those not paying attention, Colonial is a bank that made a bunch of really bad loans with FDIC-insured deposits, and BlackRock is an investment firm in the government's inner circle (kind of like PIMCO, but not as much as Goldman Sachs, obviously).

Think there's one of those deals coming where the FDIC takes all of Colonial's losses and gives the good parts to BlackRock?

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