Looking to scare the kids while on vacation in our nation’s capital? You’re in luck! The FDIC is rolling out an exhibit celebrating its 75th anniversary. That’s right, three quarters of a century with bank deposits under $100,000 safe and sound.
Through the exhibit, which is in the agecy’s headquarters, you can relive the Panic of 1873, the Panic of 1893, the Panic of 1907, the Great Depression, Black Monday, as well as other panics and crashes. There will also be a wacky section where you can see what unusual business and properties the FDIC owned as result of bad banks loans. Good luck peeling the kids away from this one!
In honour of the 75th anniversary of the Federal Deposit Insurance Corporation, the agency today unveiled a public exhibit celebrating the history of the FDIC. The exhibit, which is free and open to the public, is located at the agency’s headquarters in downtown Washington, within easy walking distance of the White House, museums and other attractions.
The exhibit begins with a look at late-19th and early-20th century financial panics. It continues by telling the story of the 9,000 bank failures during the Great Depression that led to the creation of the FDIC in 1933. The exhibit also describes how, after decades of stability, the FDIC and the newly created Resolution Trust Corporation handled thousands of bank and saving and loan failures in the late 1980s and early 1990s. With current events continuing to highlight the importance of the FDIC, the exhibit also covers some recent history and describes how the FDIC does its work today.
The exhibit features images, objects and audio-visual displays. Visitors may find the following of particular interest:
Excerpts from President Franklin D. Roosevelt’s first fireside chat in 1933 addressing the banking crisis that months later led to the creation of the FDIC; Rare newsreel footage from 1934 showing FDIC personnel making the first federal deposit insurance payments in U.S. history; A code book used by early FDIC bank examiners to keep their telegraph and telephone reports secret; and Fun facts, including a look at unusual businesses and properties — from a pro sports team to race horses to B-grade movies — the FDIC temporarily owned as a result of bad loans acquired from failed banks.
The new exhibit, called “The FDIC: A History of Confidence and Stability,” is housed inside the agency’s building at 550 17th Street, N.W., at the corner of 17th and F Streets. The nearest Metro stops are Farragut North and Farragut West. The exhibit is open from 10 a.m. to 3 p.m., Monday through Friday, except for federal holidays.
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