Bond Street Holdings LLC's acquisition of Premier American Bank NA
signals the Federal Deposit Insurance Corp. may be getting more
comfortable with the idea of non-banks buying failed financial
institutions. Bond Street is a so-called blind pool, a fund raised
by groups of investors and led by former bankers. According to
Simpson Thacher & Bartlett LLP's Lee Meyerson, its Premier
American acquisition paves the way for similar deals. - Suzanne
Stevens