Bill Seidman, who helped end last banking crisis, dies at 88

The financial and economic worlds lost a giant Wednesday when word came that Former FDIC Chairman and Resolution Trust Corporation Chairman L. William "Bill" Seidman passed away after a brief illness, CNBC reported. He was 88.

Seidman, who served as President Gerald R. Ford's Assistant for Economic Affairs from 1974 to 1977, rose to national prominence as a result of his deft, diplomatic and painstaking management of the nation's last banking crisis, the 1985-1991 savings and loan debacle, as head of the Resolution Trust Corporation (RTC).