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FDIC and Bank Failures

This is from an article at The Wall Street Journal.  You have to have a sub in order to read the whole thing, but this says a lot.  Why are they "preparing" when we are still being told everything is OK?

 

FDIC to Add Staff as Bank Failures Loom

By Damian Paletta

WASHINGTON — The Federal Deposit Insurance Corp. is taking steps to brace for an increase in failed financial institutions as the nation’s housing and credit markets continue to worsen.

The FDIC is looking to bring back 25 retirees from its division of resolutions and receiverships. Many of these agency veterans likely worked for the FDIC during the late 1980s and early 1990s, when more than 1,000 financial institutions failed amid the savings-and-loan crisis.

FDIC spokesman Andrew Gray said the agency was looking to bulk up "for preparedness purposes." The division now has 223 employees, mostly based in Dallas.