FDIC Takes Over Two California Thrifts: Two...

FDIC Takes Over Two California Thrifts: Two more troubled California savings and loans have been taken over by the Federal Deposit Insurance Corp. as part of President Bush’s thrift-industry bailout program. Both thrifts are small and based in Bakersfield. They are First Federal Savings & Loan, with $133 million in assets, and Guardian Federal Savings & Loan, with $29.4 million in assets. The FDIC also said five other thrifts were taken over in Illinois, Virginia, Missouri and Texas.