2 corporate credit unions taken over by government - Yahoo! Finance: "WASHINGTON (AP) -- Federal regulators on Friday seized control of two large institutions that provide wholesale financing for U.S. credit unions, a move they say was needed to stabilize the credit union system.
The National Credit Union Administration said it has taken over and put into conservatorship the two corporate credit unions, U.S. Central Federal Credit Union, based in Lenexa, Kan., and Western Corporate Federal Credit Union, in San Dimas, Calif. U.S. Central has about $34 billion in assets while Western Corporate, known as WesCorp, has an estimated $23 billion in assets."
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Well. It certainly is nice to see the economic recovery moving right along. I don't recall the president mentioning this on the Tonight Show last night, but I'm sure it was at the forefront of his mind, right next to the camera angles for his next magazine cover shoot.
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