FDIC Chairman Martin J. Gruenberg Inspires Civic Engagement and Public Service at Manhattan College's Annual Gargano Lecture

Manhattan College, through its O’Malley School of Business was honored to host a lecture on February 28, 2024 featuring Martin J. Gruenberg, Chairman of the Federal Deposit Insurance Corporation (FDIC). The lecture, part of the Ambassador Charles A. Gargano Lecture Series at the school, featured a “fireside chat” format with moderators Donald Gibson, Dean of the O’Malley School of Business and Jumelia Abrahamson, Director of Programs, University Neighborhood Housing Program (UNHP) and a 2009 graduate of Manhattan College. Dr. Milo Riverso, President of Manhattan College gave opening remarks to the audience of 150 students, faculty, and guests. The lecture, titled Making a Difference in Government, focused both on encouraging students to consider civic engagement and opportunities for public service, and the importance of the FDIC in local issues such as affordable housing. Mr. Gruenberg used the example of New York-based Signature Bank, whose failure in March 2023 was the third largest in US history, to show that the FDIC has a responsibility to ensure the stability of the financial system. The agency also sought to support the Bronx community, given that Signature’s failure affected a large portfolio of mortgage loans on vital multi-family affordable housing. Mr. Gruenberg gave an historical overview of the 90-year old FDIC, noting that the controversial plan to insure bank accounts was the subject of President Franklin D. Roosevelt’s first fireside chat.

For students considering a public service career, Mr. Gruenberg stated that it is a challenging choice, but these jobs can offer enormous learning opportunities while making a true impact on local communities. In short, he found that civic engagement is a “…fun thing to do.” He urged the students in the audience to think about what really excites them and to pursue that career path. Dean Gibson concurred. “I think we all can agree that our businesses and government are currently in need of good leaders,” he noted, “I’m a believer that the best business education is a combination of cutting edge business skills with the context, critical thinking, and emphasis on humanism that are the hallmarks of a liberal arts education,” the kind of education provided by Manhattan College.

Mr. Gruenberg, who grew up in a working-class family in a working-class neighborhood of the Bronx not far from the Riverdale campus of Manhattan College, spoke of various mentors and role models that he had as he ascended in his professional career. He holds a J.D. from Case Western Reserve Law School and an A.B. from Princeton University’s School of Public and International Affairs.

Manhattan College/O’Malley School of Business looks forward to continuing the Gargano Lecture series, open to all Manhattan College students and employees as well as the general population.

The O’Malley School of Business at Manhattan College enrolls more than 700 undergraduate students in accounting, business analytics, computer information systems, economics, finance, global business studies, management, and marketing. Founded in 1853, Manhattan College is an independent, Lasallian Catholic, co-educational institution of higher learning offering undergraduate and graduate programs. For more information about Manhattan College, please visit www.manhattan.edu