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January 26, 2012

Hey buddy, want to run a failing U.S. bank?

 Wanted: Skilled executives willing to take over large, failing U.S. financial firms at a moment’s notice.

Among the issues facing U.S. regulators as they work through how they would use new powers to seize and liquidate a large U.S. bank, or other big financial firm, is who could run the institution as it goes through the process.

On Wednesday it was a question the Federal Deposit Insurance Corp. put to an advisory committee it has set up to help the agency work through its responsibility to liquidate a stumbling financial giant.

Agency officials asked if a pool of candidates could be established.

The committee response? That will be difficult to do.

 Read the full story here

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