Word: ls
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...being put in charge of a $1 trillion industry. Where do you think they got these regulators? Off the streets, out of ads. They took this conglomeration of inexperienced and untrained people and they say, O.K., go out and cope with the Charlie Keatings who are diversifying the S&Ls. You've got a bunch of know-nothings trying to tell business people how to invest money...
...Arizona. You think all of this is occurring because of me? It's occurring because of incompetent, wrongheaded regulators. Not one program has saved one S&L. Maybe they didn't line their own pockets, but they're lining a lot of other people's pockets. They gave S&Ls away from October to December 1988. They are causing fortunes to be made by these assets that they're confiscating, being given into other people's hands for nothing. They took a hotel away from me, the Phoenician resort, that's probably the best hotel ever built...
...decision could invite lawsuits from other insolvent S&Ls seeking to avoid seizure by OTS. But the agency has received temporary permission to continue taking over bankrupt thrifts pending an appeal. Meanwhile, the Bush Administration moved quickly to nominate T. Timothy Ryan, a former top Government lawyer, as the new OTS chief and urged the Senate to expedite approval...
...savings and loan disaster. Indeed, with studies showing that insider misconduct has contributed to 60% to 75% of all thrift failures, the search for banking's bad guys is one of the largest criminal manhunts in U.S. history. But, like Bush's war on drugs, the war on S&Ls has completely overwhelmed prosecutors and investigators. There are more than 3,500 major criminal cases pending, yet 1,500 of them are inactive and gathering dust. Indeed, the backlog is growing so quickly that some prosecutors have stopped investigating cases that involve less than...
...quit in February after just four months on the job, citing a lack of authority "essential to be effective in this process." At the same time, the Treasury Department is having trouble replacing M. Danny Wall, the head of the Office of Thrift Supervision, who oversees the surviving S&Ls. Wall resigned in December but has been asked to stay on, even though he was sharply criticized last year for giving overly generous Government guarantees to buyers of crippled S&Ls...