Word: l
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Dates: during 1980-1989
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Executive Vice Presidents: Donald M. Elliman Jr., S. Christopher Meigher III, Robert L. Miller...
EXECUTIVE EDITORS: Edward L. Jamieson, Ronald Kriss...
Most of the property being acquired in the S & L bailout is concentrated in the Southwest, where the bulk of insolvent thrifts overextended themselves during the oil-boom days of the late 1970s and came to grief in the oil crash of the mid-1980s. The thrifts began repossessing property when borrowers could no longer meet payments, often because homeowners lost their jobs or business owners suffered from plunging sales as the energy-based economy declined. In many cases the loans should never have been made. Observes James Noteware, national director of real estate for the accounting firm of Laventhol...
...Government's objective in liquidating such real estate will be to get nearly full market value, not only to reduce the eventual cost of the S & L bailout to taxpayers but also to avoid undercutting the going rates in the marketplace. Yet the Federal Savings and Loan Insurance Corporation, which currently holds most of the repossessed property and will be combined with the FDIC under the Bush plan, has seldom shown a talent for getting top dollar. In Guerneville, Calif., a small town north of San Francisco, the FSLIC took over a condominium project with more than 20 units...
REPORTER-RESEARCHERS: Rosemary Byrnes, Ursula Nadasdy de Gallo, Brigid O'Hara-Forster, Jeanne-Marie North (Department Heads); Audrey Ball, Bernard Baumohl, Val Castronovo, Nancy McD. Chase, Oscar Chiang, Georgia Harbison, Michael P. Harris, Anne Hopkins, Katherine Mihok, Adrianne Jucius Navon, Nancy Newman, Susan M. Reed, Elizabeth Rudulph, Alain L. Sanders, Zona Sparks, William Tynan, Sidney Urquhart, Jane Van Tassel, Susanne Washburn (Senior Staff); David Bjerklie, Elizabeth L. Bland, Kathleen Brady, Barbara Burke, Wendy Cole, Tom Curry, Nelida Gonzalez Cutler, Sally B. Donnelly, Andrea Dorfman, David Ellis, Kathryn Jackson Fallon, Mary McC. Fernandez, Cassie T. Furgurson, John E. Gallagher, Lois Gilman...