Why Seidman Stayed On For an Extra Year of Duty
In his last full day as the nation's senior banking regulator, L. William Seidman said he would have left more than a year ago had he not been assailed by the White House chief of staff, John H. Sununu. "Absolutely no question about it," Mr. Seidman said as he prepared to relinquish the chairmanship of the Federal Deposit Insurance Corporation and the Resolution Trust Corporation. Referring to his visit to the White House in the spring of 1990 and the personality clash with Mr. Sununu, who sought very publicly then to push him out the door, Mr. Seidman said, "I went over there with the purpose of arranging an amicable, friendly and smooth transition."