In Senseless Panic: How Washington Failed America, William M. Isaac, Chairman of the Federal Deposit Insurance Corporation (FDIC) during the banking and S&L crises of the 1980s, details what was different about 2008’s meltdown that allowed the failure of a comparative handful of institutions to nearly shut down the world’s financial system. The book also tells the rousing story of Isaac’s time at the FDIC. With accessible and engaging prose, Isaac:
- Details the mistakes that led to the panic of 2008 and 2009
- Demystifies the conditions America faced in 2008, and
- Provides a roadmap for avoiding similar shutdowns and panics in the future
Senseless Panicis a provocative, quick-paced, and thoughtful analysis of what went wrong with the nation's banking system and a blunt indictment of United States policy.
Keywords: senseless panic, lecg global financial services, s&l crisis, s & l crisis, s and l crisis, s&l 1980’s, s & l 1980’s, s and l 1980’s, federal deposit insurance corporation, fdic, american economy, future market meltdowns, continental illinois, world’s financial system, fed insider, economic collapse, economic crisis, economic meltdown, penn square, seafirst, bank regulation, systemic risk, mark to market accounting, SEC, FASB, financial accounting standards board, money brokers, brokered funds. Wall street, comptroller of the currency, federal reserve, fslic, deposit insurance, bubbles, inflation, agricultural crisis, bank failures, savings banks, TARP, troubled asset relief program, Paulson, Geithner, stress test, Main street