Continental Illinois National Bank and Trust Company | Wikipedia audio article
Channel: wikipedia tts
Date: 02/01/2019

This is an audio version of the Wikipedia Article:
https://en.wikipedia.org/wiki/Continental_Illinois


00:00:41 1 History
00:00:50 1.1 Early history
00:01:22 1.2 Insolvency
00:03:47 1.3 FDIC rescue
00:05:23 1.4 Emergence from FDIC majority ownership
00:07:11 1.5 Silver dollar holdings
00:07:38 2 See also



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SUMMARY
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The Continental Illinois National Bank and Trust Company  was at one time the seventh-largest commercial bank in the United States as measured by deposits with approximately $40 billion in assets.  In 1984, Continental Illinois became the largest ever bank failure in U.S. history, when a run on the bank led to its seizure by the Federal Deposit Insurance Corporation (FDIC).  Continental Illinois retained this dubious distinction until the failure of Washington Mutual in 2008 during the financial crisis of 2008, which ended up being over seven times larger than the failure of Continental Illinois.