William Seidman dies

William Seidman, a principal founder of Grand Valley State University who also served with three US presidents, died after a brief illness. He was 88.

His family said he died in Albuquerque, N.M.

The Grand Rapids native was the managing partner of Seidman and Seidman, an international accounting firm. He also had been president of WZZM, the TV station he helped found.

Seidman joined President Gerald R. Ford's administration in 1974 as an economic adviser. He also co-chaired the White House conference on productivity for President Ronald Reagan.

Seidman chaired the FDIC from 1985 to 1991 during both the Reagan and George H.W. Bush administrations. He also served as head of the Resolution Trust Corp. in the aftermath of the savings and loan crisis of the 1980s.

Born in Grand Rapids on April 29, 1921 he served in the US Navy during World War II. Seidman won the bronze star while serving in the invasion of the Philippines, Iwo Jima and Okinawa.

He was in Grand Rapids in October 2008 to speak at the Seidman College of Business at Grand Valley State University, named in his honor.

At that time, Seidman spoke to a packed house without notes. He said this is a historic panic that is worse than the Great Depression, because it's more complicated. Seidman said while things will get better, it won't be right away.

"We're not going to stay in this kind of a condition," he said at the time. "And you have two jobs. One is to survive what we're in and the other is to take advantage of the opportunities when we come out."

The Associated Press contributed to this story.