Managing the Crisis: The FDIC and RTC Experience is the result of a study conducted by
the FDIC on the banking crisis of the 1980s and early 1990s. It examines the evolution
of the processes used by the two agencies to resolve banking problems, protect deposi-
tors, and dispose of the assets of the failed institutions. In conjunction with this book, a
related symposium was held in April 1998 to discuss the resolution and disposition tech-
niques used during the crisis period.
The study would not have occurred without the vision of former FDIC Chairman
Ricki Helfer, who initiated the project, and the continued support of then-Acting
Chairman Andrew C. Hove, Jr.
The project team was ably led by William R. Ostermiller, who organized and man-
aged the writers, researchers, and editors for this project. The book would not have been
completed without his dedication and effort. Two other members of the project team
also deserve special mention and thanks. Martha Duncan-Hodge and Kate McDermott
time and time again went above and beyond the call of duty to keep the project on
track. They helped guide the project along from start to finish. Special thanks also go to
the individuals named below for their contributions along with their creativity, dili-
gence, and perseverance.
Final review and validation of factual data—Henry W. Abbot
Management of project’s statistical database—James J. Gallagher
Editorial and writing staff—Mary Ledwin Bean, Shelby Heyn-Rigg, Mike Spaid, R.
Steve Stockton, and Frank A. Willis
Technical and support staff—Donna Cady, Lali Crampton, Beatrice P. Culley, Anna
M. Gay, Fay Scheer, and Nancy Smith
M A NAGIN G THE CRISIS
Every effort was made to ensure the accuracy of the information contained in this study
and to provide an impartial assessment of what occurred. As is the case with any history,
however, the interpretations made by those who have written it are important to its
structure and conclusions and these interpretations are not necessarily those of the Fed-