NBC Evening News for Wednesday, Sep 09, 1987
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(Studio: Tom Brokaw) Report introduced.
(DC: Irving R. Levine) Federal Deposit Ins. Corp.'s bail-out of failing First City Bank Corporation examined; details given, scenes shown. 1984 rescue of Continental Illinois bank in Chicago said only bail-out in history larger than First City's. [FDIC (Federal Deposit Insurance Corporation) chairperson L. William SEIDMAN - defs. move.] Bank's history noted. Expected role of Chicago bank president Robert Abboud in reorg. First City's financial stability outlined. [Employee Beth MARTIN, customer Margaret MIXON - praise FDIC (Federal Deposit Insurance Corporation) decision.] Bank failures since 1980 graphed on screen. [SEIDMAN - explains basis of decision.] Possible long-range implications for int. rates explained.
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