This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.
https://www.wsj.com/articles/veteran-of-fdic-takeover-tells-what-its-like-to-run-a-failed-bank-1f4debce
Listen to article
(2 minutes)
John Bovenzi is part of the small club of people who have run a
failed U.S. bank, a group whose membership expanded by two this month when regulators swooped in to take over Silicon Valley Bank and Signature Bank.
In 2008, Mr. Bovenzi, a longtime Federal Deposit Insurance Corp. staffer, took the helm at the failed mortgage lender IndyMac. What he discovered, and what likely faces executives running the latest failed banks: Deposits flood out, but few come in. The employees who haven’t left are looking for other jobs. It is possible some of the remaining higher-ups are responsible for what went wrong—and might even be questioned by law-enforcement officials.
5 mins ago
19 hours ago
18 hours ago
5 mins ago
19 hours ago
18 hours ago
1 hour ago
12 hours ago
4 hours ago
1 hour ago
March 24, 2023
19 hours ago
Continue reading your article with
a WSJ subscription
Already a subscriber?
Sign In
WSJ Membership
Customer Service
Tools & Features
Ads
More
Dow Jones Products
WSJ Membership
Customer Service
Tools & Features
Ads
More
Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.