Martin J. Gruenberg '75, Acting Chairman, Federal Deposit Insurance Corporation, to Speak at WWS, November 28
Martin Gruenberg '75, acting chairman of the Federal Deposit Insurance Corporation Board of Directors, will present a public talk titled, "The FDIC's Response to the Financial Crisis," at 4:30 p.m. on Monday, November 28, 2011, in Dodds Auditorium, Robertson Hall. His talk is one in a series of lectures on economic recovery. The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation's financial system by insuring deposits, examining and supervising financial institutions for safety and soundness and consumer protection, and managing receiverships. Alan Blinder '67, the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs at the Woodrow Wilson School, will moderate the discussion.
Gruenberg was sworn in as vice chairman of the FDIC on August 22, 2005. He also served as acting chairman of the FDIC Board from November 2005 to June 2006 following the resignation of then chairman, Donald Powell. Gruenberg relinquished the acting chairman role in June 2006 upon the confirmation of Sheila Bair to a five year term as chair. Following Bair’s tenure as chair, Gruenberg was then nominated by President Barack Obama to be chairman of the FDIC in June 2011. He is currently serving as the acting chairman pending his confirmation by the U.S. Senate.
Gruenberg joined the FDIC Board after broad congressional experience in the financial services and regulatory areas. He served as senior counsel to Senator Paul Sarbanes (D-MD) on the staff of the Senate Committee on Banking, Housing, and Urban Affairs from 1993 to 2005. Gruenberg advised the senator on issues of domestic and international financial regulation, monetary policy and trade. He also served as staff director of the Banking Committee’s Subcommittee on International Finance and Monetary Policy from 1987 to 1992. Major legislation in which Gruenberg played an active role during his service on the Committee includes the Financial Institution Reform, Recovery, and Enforcement Act of 1989 (FIRREA), the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA), the Gramm-Leach-Bliley Act, and the Sarbanes-Oxley Act of 2002.
Gruenberg holds a J.D. from Case Western Reserve Law School and an A.B. from Princeton’s Woodrow Wilson School of Public and International Affairs.
Blinder has been on the Princeton faculty since 1971, taking time off from January 1993 through January 1996 for public service in the U.S. government—first as a member of President Clinton’s original Council of Economic Advisers, and then as vice chairman of the Board of Governors of the Federal Reserve System.
In addition to his academic writings (books, academic articles) and his best-selling introductory textbook, he has written many newspaper and magazine columns and op-eds and, in recent years, has been a regular columnist for The Wall Street Journal. He also appears frequently on television on PBS, CNBC, CNN, Bloomberg, and others.
This event is co-sponsored with the Julis-Rabinowitz Center for Public Policy and Finance. It will be videotaped and archived online for later viewing on the Woodrow Wilson School’s Webmedia site – http://wws.princeton.edu/webmedia.
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