[Congressional Record (Bound Edition), Volume 155 (2009), Part 10]
[Extensions of Remarks]
[Page 13446]
[From the U.S. Government Publishing Office, www.gpo.gov]




             A TRIBUTE TO THE LIFE OF LEWIS WILLIAM SEIDMAN

                                 ______
                                 

                         HON. VERNON J. EHLERS

                              of michigan

                    in the house of representatives

                         Thursday, May 21, 2009

  Mr. EHLERS. Madam Speaker, I rise today to pay tribute to my friend, 
Lewis William ``Bill'' Seidman, who died on May 13, 2009 at the age of 
88. Bill was well-known and respected not only in the Grand Rapids 
area, but throughout our nation. He spent a great deal of his life 
serving our country, and he was a role model from the Greatest 
Generation. He was also an enthusiastic supporter of his home town of 
Grand Rapids, Michigan; it is the city I call home, and I have seen 
first-hand how his passion for public service has improved our 
community. He is well-known nationally as head of the Resolution Trust 
Corporation, which was ultimately responsible for cleaning up the 
Savings and Loan scandal.
  Bill was born in Grand Rapids, Michigan on April 29, 1921. He 
graduated from Dartmouth College in 1943, served honorably in the Navy 
in the Pacific theater, during World War II, and was awarded the Bronze 
Star Medal. His record as a communications officer on a Navy destroyer 
during some of the key battles in World War II clearly shows Bill 
Seidman's unselfish demeanor. Bill always put his country first.
  After the war, he obtained a law degree from Harvard and a Master of 
Business Administration degree from the University of Michigan. Bill 
married Sarah ``Sally'' Berry in 1944, and they had six children, 11 
grandchildren and two great-grandchildren.
  Bill had a large hand in shaping West Michigan as we know it today. 
He founded and was president of the television station WZZM in Grand 
Rapids. Bill actively encouraged the Michigan legislature to create a 
state college in 1963 to serve the Grand Rapids area; this has now 
grown to become Grand Valley State University (GVSU).
  Bill's role in galvanizing support for Grand Valley State University 
was critical in its creation. His affiliation with GVSU is among his 
proudest legacies. The institution is now a world-class university that 
serves over 20,000 students in West Michigan. Bill once said, ``There's 
nothing that I've done in life that gives me more satisfaction than 
seeing how Grand Valley State University is delivering on its promise 
to the Western Michigan area.''
  Bill helped reform the State of Michigan's financial management 
practices under the leadership of Governor George Romney in the 1960s. 
He later was appointed by President Gerald R. Ford as Assistant for 
Economic Affairs, and focused primarily on controlling inflation. He 
went on to co-chair the White House Conference on Productivity under 
President Ronald Reagan.
  Mr. Seidman is most well-known for his service as the fourteenth 
chairman of the Federal Deposit Insurance Corporation. He was appointed 
in 1985 by President Ronald Reagan at a time when the nation's savings 
and loan financial system was descending into a crisis caused by ill-
considered lending, in which hundreds of firms failed. This led 
Congress to form the Resolution Trust Corporation (RTC), which was the 
entity ultimately responsible for cleaning up the Savings and Loans 
scandal. Bill was appointed as head of the RTC by President George H. 
W. Bush. Mr. Seidman stated during a speech in Tokyo on September 18, 
1996, ``. . . the banking problems of the 80s and 90s came primarily, 
but not exclusively, from unsound real estate lending.''
  Bill never stopped working. As an expert on economic and financial 
matters, he was a regular commentator on CNBC, and an authoritative 
speaker on our current economic crisis.
  Bill's pursuit of public service was a passion born from his drive to 
do what was right for the country, and for those close to him. He loved 
his country, and believed public service was a noble and important 
calling. The nation is far better off for his devoted public service.
  I extend my most heartfelt sympathy and prayers to his wife and 
family. We will all miss him greatly.

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