Recapitalization of the Bank Insurance Fund

Rep. Gonzalez spoke to reporters on the recapitalization of the Federal Deposit Insurance Corporation, the insurance fund that repays depositors in failed banks. The FDIC has… read more

Rep. Gonzalez spoke to reporters on the recapitalization of the Federal Deposit Insurance Corporation, the insurance fund that repays depositors in failed banks. The FDIC has been experiencing its own financial crisis in recent months; an estimate by the Congressional Budget Office predicted the FDIC would run out of funding in one or two years. A plan formulated by the Administration requested the authority for the FDIC to borrow up to $25 billion from the Treasury to cover its needed expenditures. Rep. Gonzalez, chairman of the House Banking Committee, called for action on the FDIC’s funding problems to prevent another fiasco like the savings and loan crisis. He criticized the “numbers game” of the Administration’s plan to bail out the FDIC, saying it continued the “loss prevention” game of the 1980's that resulted in the savings and loan crisis. He called for the chairman of the FDIC, William Seidman, and chairman of the Reserve Board, Alan Greenspan, to appear before the House Bank close

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Recapitalization of the Bank Insurance Fund

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Program ID:
17303-1
Category:
News Conference
Format:
Congressional News Conference
Location:
Washington, District of Columbia, United States
First Aired:
Mar 27, 1991 | 3:35pm EST | C-SPAN 1
Last Aired:
Mar 31, 1991 | 7:27am EST | C-SPAN 2

Airing Details

  • Mar 27, 1991 | 3:35pm EST | C-SPAN 1
  • Mar 27, 1991 | 8:47pm EST | C-SPAN 1
  • Mar 28, 1991 | 1:35am EST | C-SPAN 1
  • Mar 28, 1991 | 6:25am EST | C-SPAN 1
  • Mar 28, 1991 | 12:20pm EST | C-SPAN 2
  • Mar 30, 1991 | 5:16pm EST | C-SPAN 2
  • Mar 31, 1991 | 7:27am EST | C-SPAN 2
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Recapitalization of the Bank Insurance Fund

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