A PR masterpiece

"60 Minutes" recently ran a story in which reporter Scott Pelley accompanied an FDIC team on a takeover of an Illinois bank. The story was high-risk for the FDIC and, in a larger sense, for public confidence in government regulation and the security of our banking system. It's hard to recall when such media access has been granted to a high-test, federal regulatory enforcement action carried out in real time.

In our estimation, the story turned out to be a masterful PR execution. Any reasonable viewer leaves the story feeling assured that the FDIC depositer protection program works extremely well with minimal disruption, especially in this volatile economic climate. FDIC employees are portrayed as extremely competent, professional and assuring to bank customers. FDIC chair Sheila C. Bair also performs admirably in her leadership role. If "60 Minutes" ends up essentially paying tribute to a government agency, you know someone somewhere was very much on the ball.

It was great planning and preparation all the way around by the FDIC staff, which is the core of effective public relations.


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