Bank Failure Fells Another "Healthy Bank" Bailout Recipient

Jake Bernstein, ProPublica: "San Francisco-based United Commercial Bank has become the first recipient of TARP bailout money to be shut down by the FDIC. Last year, regulators approved a $299 million taxpayer funded injection into the bank. That money, which was supposed to go to only 'healthy banks,' is now gone. The FDIC estimates United Commercial's failure will cost the agency's deposit fund about $1.4 billion."

http://www.truthout.org/topstories/110909vh02



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