 merrie says: The FDIC has twice brokered deals with private-equity groups this year. In March, California-based IndyMac Federal Bank, split off from IndyMac Bancorp Inc., was sold to investors led by Steven Mnuchin, an ex-Goldman Sachs Group Inc. investment banker, and including buyout firm J.C. Flowers & Co. Florida’s BankUnited Financial Corp. was sold in May to firms including Blackstone Group and Wilbur Ross’s WL Ross & Co. Today’s vote, which followed a public comment period on the July proposal, shows the FDIC was listening to critics who said the initial plan would drive away potential investors, Ross said in a Bloomberg Television interview. ‘Champagne-Cork Popper’ “The new proposal is better than the one they had before but it isn’t a champagne-cork popper,” Ross said. The agency agreed to shelve a proposal that would have required investors that owned at least two banks to cover losses in the event of a failure. The rules scale back this provision, applying it . . . . . . only if a group of investors owns at least 80 percent of two or more banks. Office of Thrift Supervision Acting Director :  1" rel="nofollow" target="_blank">John Bowman, the only FDIC board member to vote against new rules, said there isn’t sufficient evidence that the guidelines are needed.“It is hard to know whether the requirements are justified,” Bowman said. “The scope of the policy statement is overly broad and imprecise.” [url=http://search.bloomberg.com/search?q=John+Bowman&site=wnews&client=wnews&proxystylesheet=wnews&output=xm... |
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