Suggestions abound that bank officers and directors -- and even their professional advisers -- should give up and resign in the wake of the 1989 thrift-bailout law, the 1990 Crime Control Act, and the Federal Deposit Insurance Corporation Improvement Act of 1991, among other legal and regulatory developments affecting their oversight roles.

Such counsel of despair obviously is unacceptable to bank managements. Yet the realities that give rise to this counsel of despair cannot be ignored.

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