The Aggregator Bank will soon be established to buy troubled assets from financial institutions, according to Sheila Bair of the FDIC.
For some amusement, I last week tried to register the internet domain www.aggregatorbank.com. However, another aspirant banker was quicker on the draw. His reselling price? It was initially $100,000, but has since increased to more than $1 million! The seller wrote me the following note: “Unfortunately [for potential buyers] this name is increasing in value daily. I must ask for a much higher price.”
Despite the financial crisis, the entrepreneurial spirit seems to be alive and well!
