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Article: Meet the new FDIC.
- Article from:
- ABA Banking Journal
- Article date:
- October 1, 1989
- Author:
CopyrightCOPYRIGHT 1989 Simmons-Boardman Publishing Corporation. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Meet the new FDIC
When I arrived at the Federal Deposit Insurance Corp. in 1978, it was a relatively obscure agency. It was staffed with competent, dedicated people, focused on examining small banks and dealing with a handful of small bank failures each year. FDIC didn't seek or want publicity. This was just as well, because no one in the media much cared about it.
Both the perception and the reality of life at FDIC began to change. This shift came first with the savings bank crisis in the early 1980s. This was followed by the collapse of Penn Square, the Butcher banks, and Continental Illinois, and then by the massive problems in the farm and energy ...