Word: seidman
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Dates: during 1980-1989
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...FDIC will operate at a loss this year for the first time in its history. Its reserves now stand at $15.8 billion, down from $18.3 billion in January, and the fund is likely to lose an additional $2 billion by the end of the year. FDIC Chairman William Seidman told Congress two weeks ago that at least one and possibly two major banks may soon need substantial federal aid. Industry experts predict that the next big institution in need of rescue may be Dallas' Mcorp, the second largest banking company in Texas...
...Bank Board estimates that with the $10.8 billion and premiums from member institutions, the insurance fund will bring in nearly $30 billion during the next decade -- almost enough to take care of all the insolvent S and Ls. But other experts are not so optimistic. The FDIC's Seidman has told Congress the bailout figure could reach $50 billion, and some analysts put it as high as $100 billion. Few people believe the FSLIC can avoid going to the taxpayers for billions of dollars...
Thus ended a record of decisions that left disquiet on right and left. "There's some kind of transition going on," says Ricki Seidman of liberal lobbying group People for the American Way. "There is a lot of fuzziness ^ around the edges." Says Daniel Popeo of the conservative Washington Legal Foundation: "We're looking for the Supreme Court to answer some very hard questions that have to be confronted directly...
...difficulties in having the Board vote directly on divestment has prompted the petition candidates themselves to look for more long-term means of opening up Harvard's method of governace. Seidman said that she is disturbed by the power of the nine-member Executive Committee, which sets the agenda for meetings and makes special decisions such as choosing the membership for the joint committee...
...Executive Committee is made up of the president of the Board and the chairmen of the standing committees, who are chosen by the president and the other committee members. There is no real opportunity to nominate new members to the committee, Seidman said, adding that she thought this process leads to a closed committee with few women and minorities...