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Inside Washington (07/24/2008)
* WASHINGTON (7/25/08)--Independent presidential candidate Ralph Nader wrote letters to Sen. Christopher Dodd (D-Conn.) and Rep. Barney Frank (D-Mass.), suggesting that they hold hearings on the Federal Deposit Insurance Corp.’s (FDIC) ability to deal with potential bank failures. While 99% of insured institutions meet the “well capitalized” criteria, the possibility remains that the fund could suffer insurance losses that are significantly higher than anticipated, Nader wrote. He also included 10 questions in the letter that should be posed to FDIC officials. “The FDIC is not likely to address its own inability to clearly assess the current risks posed to depositors and taxpayers by the high-rolling banking industry,” he said ...


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