The FDIC is about the only federal agency I trust.
I worked for FDIC for many years. I always thought it was a very well run agency as opposed to many others. FDIC is funded by insurance premiums charged to insured banks. It is not taxpayer funded (unless that changed in the last 10 years.) I helped in the closing of many small banks and a few larger ones. They are very good at what they do.
I agree with you.
They weren’t the primary regulator for this bank.
If they had been, the situation would have been different. They are only allowed to be the regulator of banks below $10 billion in assets.