Inside the FDIC: Thirty Years of Bank Failures, Bailouts, and Regulatory Battles

  • 4h 6m
  • John F. Bovenzi
  • John Wiley & Sons (US)
  • 2015

Inside the FDIC tells the real stories behind bank failures and financial crises to provide a direct account of the Federal Deposit Insurance Corporation and other bank regulators. Author John Bovenzi served in senior level positions within the FDIC for over twenty years, including a decade as the Deputy to the Chairman and Chief Operating Officer. This book describes what he witnessed as the person in charge of day-to-day operations, as a nearly invisible agency grew to become a major, highly independent force impacting US financial markets.

Readers will learn how the FDIC and other bank regulators use the power of the federal government, spend other people's money, and approach decision-making.

This book takes readers inside the FDIC to showcase:

  • The FDIC's emergence as a major market influence
  • How ten FDIC chairmen helped shape the US financial regulatory system
  • Internal conflicts between the FDIC and other bank regulatory agencies
  • Pressures and challenges presented by financial crises

Since the early 1980s, over 3,400 banks have failed. These failures weren't steady, regular, and easily predictable events; periods of tranquility were followed by turmoil, booms led to busts, and peaceful complacency often turned to sudden devastation. Inside the FDIC chronicles it all, from the perspective of a first hand witness inside the agency responsible for calming the storm.

About the Author

John Bovenzi spent almost three decades as a bank regulator at the Federal Deposit Insurance Corporation (FDIC). During his career he worked for ten FDIC chairmen and with many other senior government officials. Inside the FDIC offers a compelling look into the agency that is all too often overlooked by the media. Discover why the FDIC emerged as a major and independent force that impacts the U.S. financial markets and how ten very different FDIC chairmen helped shape the agency and our regulatory system.

In this Book

  • Inside the FDIC—Thirty Years of Bank Failures, Bailouts, and Regulatory Battles
  • Introduction
  • IndyMac
  • The 1980s—Booms, Busts, and Bailouts
  • Liquidation
  • Credit Crunch
  • Foreclosure Prevention
  • “Is This the Moron Who Closed Meritor?”
  • Transition and the Power of the Federal Government
  • Subprime Behavior
  • Leadership Matters
  • Save Money, Live Better
  • Too Big to Fail
  • “I Thought We Were All in This Together”
  • Going Forward