The Debts of the Spenders: Interview W/the FDIC Vampires

They come in the night under cover of darkness. These anonymous figures reveal their intentions only at the last minute by draining the figurative blood from failed local banks to feed the unquenchable thirst of the Wall Street Bailout crowd. Like clockwork they strike every Friday night.

"A team of FDIC agents prepared to seize a bank outside Chicago. They checked into a hotel under a fictitious name, CB and Associates, to prevent a run on the bank. They didn't want anyone to know who they are or why they were in town.

Cheryl Bates and Arthur Cook are in charge of the operation that had been given the code name "HAPPY," strange considering what they were about to do.

"Do not discuss outside this room, what is going on, what we're here for," Cook instructed team members in a meeting at the hotel. Cook is the receiver-in-charge for the FDIC, who will take control when the bank is shut down. Bates is the closing team manager. "


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