Details

Inside the FDIC

Thirty Years of Bank Failures, Bailouts, and Regulatory Battles
1. Aufl.

von: John F. Bovenzi
20,99 €
Verlag:	Wiley
Format:	PDF
Veröffentl.:	20.01.2015
ISBN/EAN:	9781118994122
Sprache:	englisch
Anzahl Seiten:	224

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Beschreibungen

Titelbeschreibung

Witness how the FDIC manages your money during financial crises 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: <ul> <li>The FDIC's emergence as a major market influence</li> <li>How ten FDIC chairmen helped shape the US financial regulatory system</li> <li>Internal conflicts between the FDIC and other bank regulatory agencies</li> <li>Pressures and challenges presented by financial crises</li> </ul> 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.

Inhaltsverzeichnis

Acknowledgments vii Introduction ix Chapter 1: IndyMac 1 Chapter 2: The 1980s: Booms, Busts, and Bailouts 21 Chapter 3: Liquidation 47 Chapter 4: Credit Crunch 63 Chapter 5: Foreclosure Prevention 79 Chapter 6: “Is This the Moron Who Closed Meritor?” 95 Chapter 7: Transition and the Power of the Federal Government 113 Chapter 8: Subprime Behavior 125 Chapter 9: Leadership Matters 141 Chapter 10: Save Money, Live Better 153 Chapter 11: Too Big to Fail 169 Chapter 12: “I Thought We Were All in This Together” 187 Chapter 13: Going Forward 201 About the Author 205 Index 207

Autorenportrait

JOHN F. BOVENZI is a Partner at Oliver Wyman, a management consulting firm. He served for more than twenty years in senior-level positions at the FDIC, the last ten as Deputy to the Chairman and Chief Operating Officer.

Back cover copy

Over 3,400 banks have failed since the early 1980s.These bank failures weren't steady, regular, or easily predictable. Periods of calm and tranquility have been followed by chaos. Booms have led to busts and peaceful complacency often has turned into sudden devastation. Written by John Bovenzi—a longtime bank regulator at the Federal Deposit Insurance Corporation—Inside the FDIC offers a rare glimpse into this vital and frequently misunderstood regulatory agency. With his inside point of view, Bovenzi puts a human face on the causes and effects of financial crises. He draws on compelling personal stories that offer a perspective of the agency that is often absent from the financial-sector debates that play out on the airwaves and in the opinion pages. Bovenzi reveals how regulators grapple with complicated issues, trying to ensure that all parties are being treated fairly by our government. There are also accounts of individuals misusing the system to serve their personal interests. Inside the FDIC clearly shows how the agency which had become almost invisible emerged as a major, highly independent force impacting U.S. financial markets. With candor and insight, Bovenzi explains how ten FDIC chairmen helped shape the FDIC and the U.S. financial regulatory system. He also reveals the gripping conflicts between the FDIC and other financial regulatory agencies that unfolded amid the pressures and challenges associated with bank failures and financial crises. This book dives into the chaos surrounding bank failures to show firsthand what happens to those individuals and businesses caught in the storm. Bankers, financial professionals, and anyone concerned with the future of our economy will find Inside the FDIC proves the need for long-term strategies that can prevent future cycles of booms, busts, and bailouts.