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Last summer FDIC examiners wrote LOSS in place of Brown's "slow assets" and "doubtful assets," on Integrity's books, declared the bank insolvent...

Author: /time Magazine | Title: BANKING: 100 Cent Integrity | 1/15/1940 | See Source »

...laying out of the body was done by FDIC, local banks and young Jack Bell, newly appointed Pennsylvania State Banking Secretary. Last week they invited the public in to see the damage...

Author: /time Magazine | Title: BANKING: 100 Cent Integrity | 1/15/1940 | See Source »

...loss because Federal Deposit Insurance Corp. worked out a plan whereby the $6,000,000 of over-$5,000 deposits as well as the $29,000,000 of under-$5,000 deposits which it is obligated to protect were handed over to two other Philadelphia banks. Reason, according to FDIC's beaverlike Leo T. Crowley: "If we had let a bank like this go it might have had a bad effect on other Philadelphia banks. Also ... it would mean a forced liquidation." First National Bank of Philadelphia got Integrity's $25,000,000 of commercial deposits, Western Saving...

Author: /time Magazine | Title: BANKING: 100 Cent Integrity | 1/15/1940 | See Source »

Victor Emmanuel, unlike the Byllesby interests, believes that butter is better than cannon in dealing with the New Deal. Fortnight ago, he hired a new president for Standard, white-haired, McNuttish-looking Leo Thomas Crowley, since 1934 chairman of FDIC. He hired Mr. Crowley through Washington's No. i Big Money employment office, Jesse Jones's RFC, the same office which placed Mr. Crowley's FDIC predecessor, Jones Protege Walter Cummings (TIME, Nov. 27), who heads Chicago's huge Continental Illinois Bank...

Author: /time Magazine | Title: Personnel: Mr. Jones's Proteges | 12/25/1939 | See Source »

None of this need worry depositors whose accounts are guaranteed by FDIC. But it is plenty to worry FDIC, which will have to make good future losses; something to worry the Government which is morally obligated to keep FDIC from ever going bust; something to worry business which has to support the Government...

Author: /time Magazine | Title: BANKING: Money on Relief | 7/31/1939 | See Source »

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