Word: chairman
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Dates: during 1980-1989
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...asked for help from the five Senators, all beneficiaries of direct and indirect contributions from him: Arizona Democrat Dennis DeConcini (who had received $55,000), Arizona Republican John McCain ($125,433), Ohio Democrat John Glenn ($234,000), California Democrat Alan Cranston ($897,000) and Michigan Democrat Donald Riegle, chairman of the Senate Banking Committee ($76,100). In addition, according to the Arizona Republic, DeConcini's top aides received more than $50 million in real estate loans. Keating also gave McCain and his wife trips, including vacations in the Bahamas valued at $13,400, which McCain paid for after they became...
...head Gray was replaced by the very sympathetic M. Danny Wall, a former aide to Utah's Republican Senator Jake Garn. Wall transferred responsibility for Lincoln from San Francisco to Washington. At House Banking Committee hearings on Oct. 17, L. William Seidman, head of the Resolution Trust Corp. and chairman of the Federal Deposit Insurance Corporation, criticized Wall for keeping Lincoln open. As a result, the federally guaranteed cost of paying back Lincoln's depositors went up $1.3 billion, to $2.5 billion. Nationwide, the whole debacle of rescuing failing S&Ls will end up costing taxpayers about $300 billion...
Only about one in five Bay Area homes was covered by earthquake insurance, and generally for only 85% to 90% of its value. (Earthquake insurance can cost as much as $800 a year for a $200,000 house.) Jack Byrne, chairman of Fireman's Fund, figures that insurers will eventually shell out $2.5 billion to repair earthquake damage. They stand to recover perhaps two-thirds of that from international reinsurers -- Lloyd's of London is the biggest -- which protect insurers against catastrophic losses. Still, the earthquake claims, coming less than a month after the devastation caused by Hurricane Hugo, could...
...Henry B. Gonzalez (D-Tex.), chairman of the committee, did say a gradual reduction in deposit insurance may be considered as part of solving the S&L crisis. But he also said such a proposal "is a very serious matter, not a matter to be thrown out as a trial balloon...
...regulator, M. Danny Wall, chairman of the Federal Home Loan Bank Board, defended his agency's year-end spate of savings and loan bailouts as cheaper than shutting down the failed institutions and paying off depositors...