Washington Planning For Big Bank Failure

04/07/2009 05:12 am ET | Updated May 25, 2011
  • Colin Barr CNN Money

The government is bracing for a big bank failure.

A bill introduced in Congress would give the FDIC, the agency that stands behind Americans' bank deposits, temporary authority to borrow as much as $500 billion from the government to shore up the deposit insurance fund.

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