Word: l
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Dates: during 1980-1989
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...tantalizing: the smoking gun is being waved for all to see. Charles Keating is a former owner of California's Lincoln Savings and Loan and a defendant in a lawsuit involving racketeering, fraud and conspiracy in using the institution's funds. After the smoke clears, bailout of this S&L is expected to reach $2.5 billion, making it the nation's costliest thrift failure. When asked whether his fat contributions to the five Senators influenced them to take up his cause, Keating replied, "I want to say in the most forceful way I can: I certainly hope...
...keep ticking for two more years. Fortunately for Keating, FHLBB 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...
EXECUTIVE EDITORS: Edward L. Jamieson, Ronald Kriss...
...paradox has become common among Americans generally. But just what constitutes an acceptable risk? -- After the Bay Area shake-up, Los Angeles could be next. -- On the opposite coast, the sound of rebuilding echoes in the wake of Hurricane Hugo. -- How five U.S. Senators helped save a shaky S&L that will cost taxpayers $2.5 billion...
Executive Vice Presidents: Donald M. Elliman Jr., S. Christopher Meigher III, Robert L. Miller...