With MetLife (MET) in a rush to exit anything resembling banking (and so get out from under the...

With MetLife (MET) in a rush to exit anything resembling banking (and so get out from under the Fed's regulatory thumb), it tweaks its deal to sell $7B in deposits to GE. The new terms will make the OCC in charge of approving the deal instead of the FDIC, which is holding things up by asking too many questions.

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Comments (2)
  • TwistTie
    , contributor
    Comments (2429) | Send Message
    I'm reading "Bailout" right now.


    If you have any interest in the TARP mess, you will find this to be a good read.
    24 Sep 2012, 03:01 PM Reply Like
  • outofhere
    , contributor
    Comments (3694) | Send Message
    twist tie
    if my memory serves me right Met Life did not take any Tarp money.


    As a former banker I never dealt with the FDIC but I did with the Federal Reserve and OCC. one of my friends called and asked what I thought of the OCC. I told her that they wanted a specific area to keep all their seeing eye dogs in one place. She said she had the same view. Remember these are the guys who said WaMu was in good shape. it's one of a couple of federal agencies that make the SEC look like they know what they are doing.
    As a GE investor is this to our advantage or are we playing hide the chicken in the balance sheet.
    24 Sep 2012, 05:10 PM Reply Like
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