The FDIC swoops in and closes a failing bank. Then what?
Last year, Chana Joffe-Walt told the story of a bank failure. In today's podcast, she follows up with the main players.
The FDIC guy who closed the bank down gets choked up when he thinks back on it. And Todd Zalk — who was so connected to his job that he wore his bank name tag months after the bank closed — describes how it felt when a former colleague pleaded guilty to hiding bad loans. (Zalk is pictured above, by the way.)
Also on today's show: Our toxic asset gets a name.
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