Word: downes
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Dates: during 1980-1989
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Liquidating the S&Ls and shutting them down would have required $47 billion in "up-front cash," far more than is available immediately to the Federal Savings and Loan Insurance Corp., Wall said. However, by selling off the property of the failed S&Ls, regulators eventually would have recouped all...
The top 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.
The City Council Monday night put off discussion of two major controversies: an extension for City Manager Robert W. Healy's contract and a decision to let the developer of the Harvard Motor Inn site knock down the current Inn and replace it with shops and offices.
City Manager Robert W. Healy, who has the sole power to appoint new members, has yet to replace tenant representative Michael Raabe, who stepped down in August, 1988. Despite pressure from the Cambridge Tenants Union (CTU), Healy has yet to interview any candidate for the panel.
As for Teso's failure to hand in the reports, Healy said, "What are we going to do? We aren't going to tear down parking garages."