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

Bovenzi, John F.

Hardcover

ISBN 10: 1118994086 ISBN 13: 9781118994085

Publisher: Wiley, 2015

Synopsis

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:

• 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 this title

About the Author

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.

From the Back Cover

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.

From the Inside Flap

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.

Edition details

• Publisher: Wiley
• Publication date: 2015
• Language: English
• ISBN 10: 1118994086
• ISBN 13: 9781118994085
• Binding: Hardcover
• Edition number: 1
• Number of pages: 224