What would happen if your local bank failed? Scott Pelley and “60 Minutes” were given extraordinary access, as the Federal Deposit Insurance Corporation moves in to take over a failed bank in Chicag

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Source:
Your Bank Has Failed: What Happens Next?
60 Minutes Gets A Rare Look At How The FDIC Takes Over Banks And Reassures Depositors
CBS, March 8, 2009

http://www.cbsnews.com/stories/2009/03/06/60minutes/main4848047.shtml

Category: Bailouts, Credit, Video

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2 Responses to “60 Minutes: Your Bank Has Failed”

  1. Urkel says:

    Once they do Citi, they can make a 6 part series.

  2. Jojo says:

    I thought this was a very well done report by the 60 Minutes team.

    There will be many more failures for them to deal with this year, but as was mentioned, the FDIC is backed by “the full faith and credit of the USA”, so no worries about them running out of money.