Banker Donald W. Stone makes no bones about it - he wants to put the Federal Deposit Insurance Corp. out of business. The outspoken Mr. Stone, who is president of Simmons First Bank in Jonesbore, Ark., suggests replacing the agency with a mutual insurance company owned by the banks.

"I want to shut them down," said the 63-year-old Mr. Stone, a former member of the American Bankers Association's government relations council and a current member of its community bankers council, in a telephone interview. "I want to shut the whole thing down."

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