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The Federal Deposit Insurance Corp. is working furiously on many fronts to fulfill its mission: buttressing-or not, as the case may be-the solvency of the country’s banks. In the case of the latter, the FDIC’s marching orders then become to dispense of the seized assets as productively as possible on behalf of us taxpayers. One byproduct of the agency’s involvement in the market is that distressed debt valuations have become less- than – transparent.

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