In October, the FDIC held a large auction of properties it had acquired as a result of failed banks in Georgia. I thought this was an interesting story and wrote about it before the auction took place. It was my intention to write about it again after the results of the auction were released. No such luck. The FDIC has decided to keep us in the dark on this one. The following is an email I got from JP King, the auction house that ran the Georgia auction:
Unfortunately, FDIC has prohibited us from releasing any information regarding the auction. We’ve been trying to get them to let us release the results, but they have denied our requests. We aren’t allowed to release any details.