SAFEWAY PORTLAND EMPLOYEES’ FEDERAL CREDIT UNION, a Federal Credit Union, Appellant, v. FEDERAL DEPOSIT INSURANCE CORPORATION, Appellee

OPINION

Before KILKENNY and SNEED, Circuit Judges, and JAMESON, * District Judge. SNEED, Circuit Judge:

This ease arises out of the failure of the Sharpstown State Bank of Houston, Texas. Plaintiff-Appellant Credit Union is a purchaser of brokered certificates of deposit of the bank. We have previously set out the facts surrounding this transaction. See Safeway Portland Employees’ Federal Credit Union v. C. H. Wagner & Co., 501 F.2d 1120 (9th Cir., 1974).

In its complaint in this ease the Credit Union principally alleges that the Federal Deposit Insurance Corporation (FDIC) violated Section…