Dodd-Frank, Title II: Where the FDIC and the ‘Orderly Liquidation Authority’ meet the Bankruptcy Code

The FDIC is currently responding to one of the worst financial crises in the history of the nation’s banking system. Sheila Bair, Chairman of the FDIC, expects that 2010 ‘will be the high water mark for the banking crisis.’[1] Just over the last two years, 268 banks have failed in the United States, which is nearly ten times the number of failed banks during the prior eight-year period.[2]