Tuesday, the Financial Crisis Advisory Group (FCAG) issued its report on “the standard-setting implications of

Yesterday, the House Judiciary Committee’s Subcommittee on Commercial and Administrative Law concluded its series of hearings on the ramifications of auto industry bankruptcies. Testifying before the committee were:

Panel I:

Today, the House Judiciary Committee’s Subcommittee on Commercial and Administrative Law held a hearing entitled “Ramifications of Auto Industry Bankruptcies; Part II.” Testifying before the committee was Ron Bloom, Senior Advisor, U.S. Department of Treasury.

Yesterday, as receiver of two failed Florida banks, First State Bank and Community National Bank of Sarasota County, the FDIC entered into a purchase and assumption agreement with Sterns Bank, N.A., St. Cloud, Minnesota, to assume all the deposits of the failed banks. These closings bring the total number of failed bank’s in the nation this year to 71 and 6 in Florida.

Today, the FDIC announced the next steps in further developing the government's Legacy Loan Program (LLP), by testing the LLP program's funding mechanism through the sale of a portfolio of residential mortgage loan receivership assets to a limited liability company (LLC) in exchange for an ownership interest in the LLC.

Yesterday, the Oregon Division of Finance & Corporate Securities closed Community First Bank, Prineville, Oregon, and named the FDIC as receiver.

Today, in the sixth largest bank failure in U.S.

Today, Guaranty Bank, headquartered in Austin, Texas, was closed by theOTS and the FDIC was named as receiver.

In the past two days, AIG has announced the sale of its Hong Kong Financial branch and the sale of additional energy and infrastructure investment assets.

Today, the OTS closed ebank, headquartered in Atlanta, Georgia, and the FDIC was named as receiver.