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Document Type

Lessons Learned

Abstract

William (Bill) Isaac honed his crisis management expertise during his tenure as chairman of the US Federal Deposit Insurance Corporation (FDIC) from 1981 to 1985 during the Savings and Loans (S&L) Crisis. He steered the agency through a volatile period marked by a sea of bank and thrift failures, most notably that of Continental Illinois National Bank and Trust Company. In 1986, Isaac founded the Secura Group LLC (later FTI Consulting, Inc.), a regulatory consulting firm where he worked until 2019. He also served as chairman of the board of Fifth Third Bancorp from 2009 to 2014 and has served as co-chairman of the Isaac-Milstein Group since 2020. Isaac has written and commented extensively on financial and regulatory issues and is the author of the book Senseless Panic: How Washington Failed America, with a foreword by Paul Volcker, in which he critiques how the government handled the Global Financial Crisis of 2007–09 (GFC). At the time of this interview, Isaac served as the chairman of Secura/Isaac Group, based in New York City and Washington, DC.

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