Financial Industry Restructuring
The committee heard testimony from William Seidman, chairman of the Federal Deposit Insurance Corporation, on the financ…
State of Banking Industry
1991-01-08T08:51:19-05:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvMmRjXC8xOTkxMDEwODA4NTU0MzAwMV9oZC5qcGciLCJlZGl0cyI6eyJyZXNpemUiOnsiZml0IjoiY292ZXIiLCJoZWlnaHQiOjUwNn19fQ==Earlier in the week, the Federal Deposit Insurance Corporation seized the assets of the Bank of New England, the biggest real-estate lender in the northeast. Mr. Knight said that the seizure of the Bank of New England was symptomatic of the poor economy of New England than the banking industry as a whole. The Bank of New England’s failure cost the FDIC approximately 2.3 billion dollars, the second or third costliest bank failure in history.
Earlier in the week, the Federal Deposit Insurance Corporation seized the assets of the Bank of New England, the biggest real-estate lender … read more
Earlier in the week, the Federal Deposit Insurance Corporation seized the assets of the Bank of New England, the biggest real-estate lender in the northeast. Mr. Knight said that the seizure of the Bank of New England was symptomatic of the poor economy of New England than the banking industry as a whole. The Bank of New England’s failure cost the FDIC approximately 2.3 billion dollars, the second or third costliest bank failure in history. close
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- Jerry Knight Correspondent Washington Post
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