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Washington
Inside Washington (03/26/2008)
* WASHINGTON (3/27/08)--The Federal Deposit Insurance Corp. is preparing for a possible increase in failures that could result from current problems in the credit markets by working toward hiring 115 more employees for its division that handles bank resolutions. The agency also announced last month that it would rehire 25 of its retirees from that division. The two hiring moves would bring the number of division staff to 360, a 60% increase over current levels. (American Banker March 26)… * WASHINGTON (3/27/08)—Sen. John McCain of Arizona, the presumptive Republican presidential candidate, began outlining principles he would back to tackle the current problems stemming from the housing crisis. They included lender accountability for faulty loans and increased disclosure for mortgage applicants. Speaking to a roundtable for Hispanic small businesses in Southern California, McCain said he is opposed to reducing requirement for down payments for government-backed mortgages. He also backed the idea of national summits on mortgage lending and on mark-to-market accounting. McCain did little to clear any confusion about what specific plans he might back if his bid for the White House is successful, but said he will consider “any and all proposals” based on cost and benefits. (American Banker March 26)…


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