by: Kenneth Bossard
On my way back from the CorcoranGallery of Art, I stumbled across a strategically located and timely exhibition.
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| Entrance to FDIC main headquarters 550 17th St. NW DC |
The Federal Deposit Insurance Corporation (FDIC), responsible for insuring our nation's banking system from failure, is located directly across from renovations on the Old Executive OfficeBuilding, which is, literally, the west wing of the White House.
The exhibit, "The FDIC: A History of Confidence and Stability," drew me by the stateliness of the building and the invitation to public showing. I checked off good signage as one merit of the showing and went inside.
Though touted as "an exhibit open to the public," I was warned not to take pictures by the new security guard supervisor. Before I could get into my litany of complaints—public showing, display in unsecured, prescreening area, journalism student—the more experienced junior officers pled my case. I was allowed to shoot.
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| 75-year history exhibit inside lobby of FDIC headquarters. |
The centrally located big screen display promised interactivity, the
goal of my exhibition analysis assignment. I was greeted by an already active screen displaying
scenes from our country's financial past. The display offered brochure guides on the
left as I entered.
The screen was a disappointment. There was no
guide to contents being shown either in the general information brochure or onscreen.
I was left to watch scenes from old FDIC promotional videos touting the
agency's creation in 1933 to quell fears spawned by the financial system
failures that lead to the great depression.
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| The main display screen offered no controls for selection or program information. |
Actors portrayed made-up scenes
of panicked calls spreading the news of bank failures and mounting monetary
loss. It made me want to see actual scenes from the era, but none appeared. I did not stay to see if there would be any end to the commercials,
frustrated by my inability to choose content.
The statistics on the walls were informative. 9,000 bank failures lead to FDR's decision to form the FDIC to
insure deposits. As I walked I saw towards the back of the central screen display I saw a phone—interactivity!
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| One of two phones intended to offer audio clips of FDR's response to the banking crisis. |
There was FDR waiting at the fireside to tell
me about, I supposed, his decision to form the agency and bail out our banking
system. Unfortunately, I'll have to add him to the list of presidents I have yet to receive a clear explanation for their bank bailout strategy, because I could not hear
him. I picked up the phone and sure enough sound came through, but it was low volume and practically inaudible over the panicked actors blaring from the display's front.
The display—both audio and video—needed a simple menu allowing visitors to choose what they wanted to
hear or see. Volume adjustment would have helped. A wireless internet connection
would have brought the entire display to life.
The most simplified display on one of the 17
approximately 8-foot display boards, and the only display information actually
referenced in the brochure, was a diagram of what happens when a bank fails.
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| Wall display outlining FDIC steps involved in takeover of failed banks |
This graphic typified the
advantage simple web access would have allowed viewers. The agency's website features current bank closing
and consumer and community information on its homepage. Even a printed wheel
chart showing "Your State Coverage" would have made this graphic more
personal.
I was glad I stopped in.
Despite being unable to see actual footage of the depression era or even current
agency actions in the midst of this similar crisis, I enjoyed the abundance of
little-known agency and U.S. history facts. Learning among other things the country was subject to many
bank panics before the creation of the FDIC in 1933 and that the agency has
reimbursed depositors over $115 billion since Lydia Lobsiger received the first
check in 1934 was worth the stop.
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| Rear display: oversized check symbolizing FDIC total reimbursements to depositors. |
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