http://www.msnbc.msn.com/id/21134540/vp ... 5#30726965
My grandfather passed on today. He was the chairman of the Federal Deposit Insurance Corporation in the late 1980s and oversaw cleaning up after the S&L crisis by being the first chairman of the Resolution Trust Corporation as well. He was an advisor to Gerald Ford and Ronald Reagan and a Chief Financial Commentator for MSNBC, as well as managing partner of Seidman and Seidman (now BDO Seidman) for awhile back a few decades ago - kind of a big deal in the financial world.
If anyone wants to watch the coverage of his passing, it's fairly moving stuff. He did a lot as a public servant in America, and that's something you can trust irrespective of my bias to him as a family member, because MSNBC obviously didn't need to consult with me before filming this segment.
A lot of what he really did for the country and the banking sector in a different time is going to stay very relevant in today's crises, as well. He had some things to say on the mortgage crisis last year, particularly about the difficulties of government receivership of homeowner real estate (the government can't effectively caretake for the properties, or service mortgages very well on that scale, or in his words "fix the plumbing if the plumbing breaks". That was one thing about him - he never used fancy terminology to describe whatever the hell was going on. He would tell you in straight-up plain English you could explain to a ten-year-old, and he often did, to us, at family reunions, which is one of the few reasons I have any idea what the hell is going on in this financial crisis.
http://www.cnbc.com/id/26990406/
Rest in peace, Pop-pop. You'll be very missed.
My grandfather passed on today. He was the chairman of the Federal Deposit Insurance Corporation in the late 1980s and oversaw cleaning up after the S&L crisis by being the first chairman of the Resolution Trust Corporation as well. He was an advisor to Gerald Ford and Ronald Reagan and a Chief Financial Commentator for MSNBC, as well as managing partner of Seidman and Seidman (now BDO Seidman) for awhile back a few decades ago - kind of a big deal in the financial world.
If anyone wants to watch the coverage of his passing, it's fairly moving stuff. He did a lot as a public servant in America, and that's something you can trust irrespective of my bias to him as a family member, because MSNBC obviously didn't need to consult with me before filming this segment.
A lot of what he really did for the country and the banking sector in a different time is going to stay very relevant in today's crises, as well. He had some things to say on the mortgage crisis last year, particularly about the difficulties of government receivership of homeowner real estate (the government can't effectively caretake for the properties, or service mortgages very well on that scale, or in his words "fix the plumbing if the plumbing breaks". That was one thing about him - he never used fancy terminology to describe whatever the hell was going on. He would tell you in straight-up plain English you could explain to a ten-year-old, and he often did, to us, at family reunions, which is one of the few reasons I have any idea what the hell is going on in this financial crisis.
http://www.cnbc.com/id/26990406/
Rest in peace, Pop-pop. You'll be very missed.
