Legislation is pending in Congress to shore up the savings association fund as a final payment on the savings and loan crisis of the 1980s and to establish the framework for a merger of the two insurance funds, but only two weeks remain in the Congressional session. It is the FDIC's strong commitment to financial stability that we must preserve with the legislation. As a Los Angeles Times editorial said earlier this week, passage of this legislation is critically important to the FDIC and to the nation. Businesses are successful only as long as they are effective in responding to change. This sensitivity to change makes business an instrument of change, Drucker has said.
Successful businesses are also efficient.
Profits and losses provide business with a test of performance. Like a business, the FDIC also provides a service. It is a public service. The FDIC seeks to assure a stable financial system by providing insurance on bank and thrift deposits. The FDIC was created during the Great Depression to restore and maintain stability in the financial system.