The FDIC's new liquidity guarantee program will cover $1.4T in senior unsecured debt and...

|By:, SA News Editor

The FDIC's new liquidity guarantee program will cover $1.4T in senior unsecured debt and $400-500B in transaction deposit accounts, which businesses use to meet payrolls and pay vendors. FDIC Chairman Bair says the program "definitely would have made a difference" for Wachovia (WB).