News, Updates & Insights
Back to the Future?
The Federal Reserve and Congress have created and dumped into the economy massive amounts of debt at close to zero interest rates, allowing us to ignore the problems while they have mushroomed beyond control.
“Why does one unelected bureaucrat get to decide credit card fees?”
My latest article in The Hill, co-written with my friend Tom Vartanian, challenges the amount of power that the Director of the CFPB, an unelected official, can wield. Having a politicized official at the helm of this agency will do the American consumer more harm than good.
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National Debt, Inflation and the Federal Reserve
This article was written in response to a thoughtful and important opinion piece authored by my good friend, Alex Pollock, about the need for Congressional oversight of the Federal Reserve, something recently advocated by Rep. French Hill in the House and Sen. Rand Paul in the Senate.
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“About That 3 Percent GDP Growth” by Larry Kudlow
Larry Kudlow’s opinion in the NY Sun regarding the 3+% GDP growth announced by the U.S. government this past week. Unfortunately for those celebrating this event – particularly those in the White House – the bad news, as Kudlow notes, is that all of the growth is attributable to massive deficit spending by the government, which will not have a happy ending for consumers, businesses, and taxpayers.
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“Why regulators’ confidential bank ratings should not be public information”
My latest article in The Hill explains why CAMELS ratings, an important tool in bank regulation, must not be made public.
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“Why is the SEC still allowing crypto to run wild?”
My latest article, co-authored with my friend Thomas Vartanian, argues that the SEC learn from history and regulate the crypto industry in order to protect the public interest.
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“How Will We Survive the ‘Deluge of Debt’?” by the New York Sun
I urge you to read the New York Sun editorial titled “How Will We Survive the ‘Deluge of Debt’?”. We all know and talk about the mountain of debt that exists not only in the in the United State but throughout the world. It was my incredible honor, as Chairman of the FDIC, to work side by side with the legendary central banker now deceased, Paul A. Volcker, from 1978 when he was appointed by President Carter as Chairman of the Federal Reserve.
Continue Reading “How Will We Survive the ‘Deluge of Debt’?” by the New York Sun
“How many more times will we be conned by crypto?” by Thomas Vartanian
My longtime friend and colleague, Tom Vartanian, has published a new article in The Hill on the urgent need to impose meaningful federal regulation on the Crypto industry. He makes a compelling case for protecting the public from potentially significant losses in these volatile and risky instruments.
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Schwab Network’s “Market on Close” on Federal Reserve
I joined Schwab Network’s “Market on Close” to give my perspective on the Federal Reserve’s announcement yesterday that it would keep its key interest rate unchanged heading into 2024.
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The FDIC Under a Microscope
The Federal Deposit Insurance Corporation is in the hotseat following the Wall Street Journal’s report of sexual harassment issues at the agency. Incidents of this nature tarnish the reputation of an agency that has brought so much comfort and financial security to the citizens of our great nation. The FDIC is a proud and extraordinary organization working…
“Reforming the Federal Reserve” by Alex Pollock
My long-time friend, Alex Pollock, has written what might be the most timely and important of the many thoughtful pieces he has authored over a lifetime of great scholarship. The article addresses the issue of whether the Federal Reserve should be subject to Congressional oversight when setting interest rates and determining the supply of money.
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How Risky Are the Banks Now? What Regulatory Reforms Make Sense? Federalist Society Panel Discussion
I joined the Federalist Society’s Regulatory Transparency Project for a panel discussion moderated by my good friend Alex Pollock.
What led to the TD-First Horizon deal termination
I spoke with Zoe Sagalow at S&P Global Market Intelligence on the suspension of Toronto-Dominion Bank’s acquisiton of First Horizon Corp., explaining how these processes work from a regulatory perspective.
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Remembering Charles Arthur (Butch) Isaac
Last Saturday Butch and his wonderful partner, Pam Clark, watched the Ohio State game together and had dinner. Some 12 hours later, Butch died in Pam’s arms. I don’t believe he could have ever scripted a better ending for his great life. I didn’t get to say goodbye, but I spoke with him by phone last Friday and texted him “Go Bucks” during Saturday’s game.
“Lots of Red Ink at the Fed” by Alex Pollock
Alex Pollock, who has devoted much of his lifetime to studying the financial world, has written two new articles about highly questionable monetary policy actions taken by the Federal Reserve in coordination with the US Treasury’s TARP bailout programs
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Bill Isaac – Financial Institutions in the Current Environment
Larry Gordon and I sat down for a wide-ranging interview covering the banking and thrift crises from 1978 through 1992 when the FDIC dealt with thousands of deeply troubled banks and thrifts, some 3,000 of which failed, including many of the largest regional banks in the nation.
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Government Debt Crisis Has Hit U.S. Banks | Bill Isaac, Former FDIC Chair
I joined host Jack Farley for an episode of the Forward Guidance podcast, during which we discussed my background in banking and the lessons I learned that should be applied today.
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Capital reform is coming, but not without a fight
I spoke with American Banker about the Fed, FDIC, and OCC’s newly proposed capital rule changes.
Continue Reading Capital reform is coming, but not without a fight
Bloomberg Markets “The Close”: Proposed Capital Rules
Regulators have been acting in an ad-hoc manner, albeit in good faith, for over six decades (including during the period when I was Chairman of the FDIC). This unending practice of bailouts of large banks and large depositors must end––now.
I urge Congress and the regulators to develop a plan to reform the deposit insurance system to end bailing out the largest depositors when banks fail.
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It’s time to stop uncontrolled federal spending without raising taxes.
How did the federal debt reach the crisis levels we see today? Having spent over 50 years in the banking industry, including nearly a decade at the FDIC from the late 1970s through the mid-1980s, I’ve seen this all before.
Continue Reading It’s time to stop uncontrolled federal spending without raising taxes.
“Time To Rein in a Runaway Federal Reserve That Took Congress for Granted” by Alex Pollock
My good friend, Alex Pollock, wrote a recent article for the New York Sun that I highly recommend every concerned citizen read about the manner in which the Federal Reserve has been handling monetary policy in recent decades and the need for its policies to be overseen, perhaps by a special bi-partisan Congressional oversight committee.…
Reagan Institute “Reaganism” Podcast
It was an enormous pleasure to join host Roger Zakheim, Director of the Reagan Institute, in a nearly hour-long conversation, covering the ongoing federal budget and debt crisis and the role that the FDIC plays in protecting American’s financial security. I urge you to set aside the time to listen intently to this extremely timely and important topic. Our nation’s future is clearly on the line.
“FDIC reforms to stabilize and strengthen banking”
In a new article published in The Hill, I propose five much-needed reforms to stabilize and strengthen today’s banking system.
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Yahoo! Finance TV on SVB, Signature Bank
I joined Yahoo! Finance TV once again to discuss today’s banking crisis and what’s to come.
SVB failure highlights the need to manage interest rate risk carefully
I spoke with FT’s Brooke Masters on the lessons banks must take from SVB’s meltdown.
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We’re going to have continuous banking problems in the U.S.: Former U.S. FDIC chair
I joined BNN Bloomberg to discuss the ongoing U.S. banking troubles.
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JPMorgan: the bank that never lets a crisis go to waste
I spoke with the Financial Times on JPMorgan’s takeover of First Republic as a public service.
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Banks’ new problem: The market is predicting they will fail
I spoke again with Politico’s Sam Sutton on the chaos that is threatening our banking ecosystem.
Continue Reading Banks’ new problem: The market is predicting they will fail
To prevent bank runs, FDIC wants to shore up its coverage of bank accounts
I spoke with Marketplace podcast about how the FDIC can help stabilize banking.
Continue Reading To prevent bank runs, FDIC wants to shore up its coverage of bank accounts
How to respond to today’s banking crisis with proper preparation
Now more than ever, proper preparation will be key to banks’ survival. This article was written by Jim Watkins and Ed Hida of Secura/Isaac Group to encourage banks to plan for tougher regulatory oversight.
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Veteran of 1980s banks crisis hits out at sale of First Republic to JPMorgan
I spoke with Brooke Masters of Financial Times for her latest article on today’s banking crisis.
Continue Reading Veteran of 1980s banks crisis hits out at sale of First Republic to JPMorgan
“The Fed wants more power after the banking collapse. We need real reform — and less Fed.”
My latest article in The Hill is co-authored with my long-time friend Tom Vartanian.
Former FDIC Chair on First Republic Meltdown
I spoke with Annmarie Hordern and Joe Mathieu on Bloomberg’s “Balance of Power” about reports that the FDIC may place First Republic Bank under receivership, and talked about the report the Federal Reserve put out on the collapse of Silicon Valley Bank.
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“The Importance of an Unhackable Internet”
My review of Thomas Vartanian’s new book, “The Unhackable Internet: How Rebuilding Cyberspace Can Create Real Security and Prevent Financial Collapse,” was published in American Banker.
Silicon Valley Bank: The Postmortems Came Fast and Furious
My recent opinion in the Wall Street Journal was cited in this article on SVB’s failure, published by the Global Association of Risk Professionals.
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Deficit spending, inflation led to bank failures
I was pleased to speak with my hometown newspaper, The Bryan Times, about my career, the banking system, what led to the recent bank failures, and how we should move forward.
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“The Fed’s Capital Goes Negative” by Alex Pollock
My friend, Alex Pollock, Senior Fellow of the Mises Institute, published a disturbing but important article in the New York Sun on Friday. It shows graphically how destructive our fiscal and monetary policies have been over the past two decades. These policies began with massive deficit spending by Congress, approved by the last four Presidents.…
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“The U.S. Needs Economic Regime Change” by Kevin Warsh
I recommend a recent Wall Street Journal article by Kevin Warsh, former Governor of the Federal Reserve and a Visiting Fellow at the Hoover Institution. Kevin’s intelligent and heartfelt piece discusses the Federal Reserve’s failed experiment in monetary policy which began a little over 20 years ago. It has been an abject failure, particularly when…
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“First Financial Forum” Webcast
William Isaac and Mitchell Glassman discuss today’s banking crisis with First Financial Network’s Founder & CEO, Bliss Morris.
Regulators Too Slow to Act on SVB: Ex-FDIC Chair Isaac
I appeared on Bloomberg Markets to discuss SVB’s bank failure and the FDIC’s reaction with host Alix Steel.
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“The FDIC Has a Proven Way to Avoid Moral Hazard”
I authored an opinion article in yesterday’s Wall Street Journal on the FDIC’s decision to cover 100% of SVB and Signature Banks deposits, even for those depositors who were uninsured.
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