The FDIC may have to select their first cases in a state where the record of successful use of the in pari delicto defense by third parties is less than in New York or Pennsylvania, for example.
This matters because loans from the EFSF rank pari passu with loans provided by private-sector investors to a buckling sovereign borrower such as Spain, but credit from the ESM would be senior to private sector loans.
Typically, since the actions of employees are imputed to the corporation, that would make Colonial a wrongdoer right alongside Taylor Bean exactly the scenario in which in pari delicto would protect its auditors.
The book begins in an Afghan village in 1952, where a boy named Abdullah travels on foot through the desert with his father and his younger sister, Pari.