WASHINGTON — Though the Federal Deposit Insurance Corp. managed to avert two crippling bank failures in the past week, concern is growing that the government's quick fixes may prove costly over the long haul.

Selling Wachovia Corp.'s banking operation to Citigroup Inc. would create a company with $2.9 trillion of assets. That FDIC-assisted deal was announced days after the government sold Washington Mutual Inc.'s banking operation to JPMorgan Chase & Co., creating a $2.1 trillion company. And once Bank of America Corp. completes its deal for Merrill Lynch & Co. Inc., it would have $1.9 trillion of assets.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.