Bloomberg News ran a story titled “FDIC May Need $150 Billion Bailout as Local Bank Failures Mount” The FDIC’s Public Relations office was quick to provide a rebuttal to this story with a compelling explanation of why this Bloomberg story does disservice to the community. In this age of ‘fragile’ consumer confidence, every rumor can spark a fire and bring even the largest institutions to a halt, it is in every institution’s interest to provide timely, accurate and precise information to its customer.”]
Source: https://www.bankinfosecurity.com/blogs/wamu-nomore-p-82