Free Republic

“FDIC warns of legal action against officers of failed banks” was the heading of a November 10th article published by the LA Times. The article accurately describes the actions the FDIC is taking against some officers and directors of failed financial institutions. At first blush, the headline appears to put all directors and officers of banks on notice to begin writing big checks. The outcry from the article was immediate and profound (and is some cases profane). The impropriety of such an unrelenting policy towards bankers affected by factors outside their control seemed dishonest at best. In checking the FDIC...