Word: fdic
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
With the release of government documents spelling out the conflict-of- interes t allegations, and reports that the Federal Deposit Insurance Corporation (FDIC) might file a $200 million civil suit against him and the other officers and directors of Denver's Silverado Banking, Savings and Loan Association, Neil Bush replaced Charles Keating as the S&L poster boy. His father interrupted his final press conference at the Houston economic summit to defend the besieged 35-year-old Denver businessman. "What father wouldn't express a certain confidence in the honor of his son?" asked the President as his voice cracked...
...credible defense -- a combination of selective prosecution and sufficient, if not total disclosure -- his father and the Republican Party may wish he had cut a deal and signed the cease-and-desist order when the OTS was willing. With all the publicity surrounding young Bush, the FDIC may feel pressure to push its suit to partially recover from the directors and officers of Silverado the $1 billion loss to taxpayers. On Friday Democratic members of the House Judiciary Committee asked the Justice Department to appoint a special prosecutor to handle the Silverado case; but at least one of the members...
...Oversight Board, which is chaired by Treasury Secretary Nicholas Brady, decides RTC policy and controls its funding. Congress agreed to give the Treasury a role so that the Administration would have a major stake in the bailout, but dividing responsibility has prompted feuding between the Treasury and the FDIC. "It is a perfect setup for blaming someone else," complains Seidman...