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Bill Seidman, Ex-FDIC Chairman, Dead

05/13/09 05:19 PM ET   AP

Bill Seidman

ALLENDALE, Mich. — Former Chairman of the Federal Deposit Insurance Corp. L. William Seidman has died.

Grand Valley State University, of which he was the founding chairman, says Seidman died Wednesday at age 88.

The Grand Rapids native was the managing partner of Seidman and Seidman, an international accounting firm. He also had been president of WZZM, a Grand Rapids TV station that he helped found.

Seidman joined President Gerald R. Ford's administration in 1974 as an economic adviser.

Seidman chaired the FDIC from 1985 to 1991. He also served as head of the Resolution Trust Corp. in the aftermath of the savings and loan crisis of the 1980s.

He was a principal founder of Grand Valley State, a state-funded university in Allendale, about 15 miles west of Grand Rapids.

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Filed by Nicholas Sabloff  |