FDIC Actions In Credit Turmoil
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Market interventions by the FDIC under the leadership of Sheila Bair:
Proposed increasing federal insurance of bank deposits beyond the current limit of $100,000 per account.
Brokered the sale of Wachovia to Citigroup by agreeing to limit Citigroup's losses in exchange for a stake in the company.
Seized Washington Mutual in the largest bank failure in U.S. history, then sold the company to J.P. Morgan Chase.
Created a program to modify thousands of mortgage loans held by IndyMac Bancorp, which the government seized in July.
