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Monday, November 16, 2009

Meredith Whitney Expects Double-Dip Recession, FDIC dumps "Cease & Desist"

by Calculated Risk on 11/16/2009 03:51:00 PM

From CNBC (added): Stocks Overvalued, Recession Will Return: Meredith Whitney

From American Banker: FDIC Speaks More Softly, Retains Stick

The FDIC changed the name of its cease-and-desist order to the less ominous-sounding "consent order" (a term already used by other regulators) ... David Barr, an FDIC spokesman, said that the traditional cease-and-desist order will be issued to any banks that refuse to stipulate and instead seek an administrative hearing.
...
The FDIC has not made any of the new orders public so far.
A kinder softer name ...