Flashback: Nov. 12, 1990
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Flashback: Nov. 12, 1990
The day the RISDIC crisis hit home.
NBC 10 News
Published: November 12, 2008
Published: November 12, 2008
Today’s Flashback is from 18 years ago, Nov. 12, 1990. The day Heritage Loan and Investment bank shut down, after its deposit insurance company, RISDIC, gave the bank and its president, Joseph Mollicone, a $5 million financial boost.
This was really the day the RISDIC credit union crisis began and the public was only just beginning to understand the scope of it all.
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