The Downfall of Continental Illinois National Bank & Trust

Why did one of the most respected banks in America fail in 1984?

The story of Continental Illinois National Bank & Trust Co. is a seminal story in American banking.

It was one of two marquee Chicago banking dynasties that had survived into the 1980s, the other being the First National Bank of Chicago. Its headquarters in the Chicago Loop is one of the most photographed buildings in American finance, sitting across the…