Financial Industry Restructuring

The subcommittee heard testimony from Mr. Seidman, chairman of the Federal Deposit Insurance Corporation, on restructuring of the… read more

The subcommittee heard testimony from Mr. Seidman, chairman of the Federal Deposit Insurance Corporation, on restructuring of the financial industry. Mr. Seidman advocated an eleven point plan to protect bank deposits, a function usually served by the FDIC, which is experiencing financial difficulties due to the number of recent bank failures. Mr. Seidman described his plan to secure bank deposits in the short term and his long term plan to reconstruct the financial capital of the Federal Deposit Insurance Corporation. His plan involved increasing the amount of money the FDIC could borrow from the Treasury from $5 billion to $20 billion. Mr. Clarke characterized the hearing as being oriented towards remaking a financial system which had ceased to function adequately in recent years. He advocated entirely new and comprehensive solutions to solve the problems of the U.S. banking system rather than patchwork repairs to the existing system. close

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Financial Industry Restructuring

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Program ID:
16851-1
Category:
House Committee
Format:
House Committee
Location:
Washington, District of Columbia, United States
First Aired:
Feb 28, 1991
Last Aired:
Mar 3, 1991

Airing Details

  • Feb 28, 1991 | 8:09pm EST | C-SPAN 2
  • Mar 01, 1991 | 2:40am EST | C-SPAN 1
  • Mar 01, 1991 | 6:25am EST | C-SPAN 2
  • Mar 01, 1991 | 12:40pm EST | C-SPAN 2
  • Mar 03, 1991 | 12:05pm EST | C-SPAN 2
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Financial Industry Restructuring

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