[Freest Republican]

the FED insured and paid the balances before they collected a penny from any sale of assets.

contrasted to the S&L crisis when the nation learned that FDIC investigated and paid out much later unlike SIPC that pays immediately to the limit then investigates.

[stig]

contrasted to the S&L crisis when the nation learned that FDIC investigated and paid out much later

I think the problem with the S&L crisis was FSLIC was the guarantor in that situation and they were underfunded and couldn't handle the crisis so the FDIC had to step in and figure it all out.