"Moral hazard" has reared its ugly head again in federal deposit insurance as the banking industry continues to lobby for greatly reduced premiums and reserves in the insurance fund.

American Banker commentaries on April 6 and April 20 by William Isaac of the Secura Group reflect not only this moral hazard but also "memory hazard" - a failed or incomplete recollection of banking history as recent as his tenure as FDIC chairman from 1981 to 1985.

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