Word: pratt
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...admitted in court. Wilson, who was being held on $20 million bail in a Washington-area jail, refused to enter a plea at his arraignment hearing Friday. His attorney, John Keats, instead argued that he needed two weeks to investigate whether his client had been illegally apprehended. Judge John Pratt denied the request and entered a plea of not guilty on Wilson's behalf. Keats hinted that the Government might be greatly embarrassed if it presses its case. Said he: "We're at the start of a great adventure, if it goes to trial." -By James Kelly. Reported...
...savings and loan was caught in the now familiar crunch between old longterm, low-interest loans and the high cost of raising new money. Linda Tsao Yang, the California savings and loan commissioner, called Fidelity "a victim of high interest rates." Federal Home Loan Bank Board Chairman Richard T. Pratt tried to calm nervous depositors at Fidelity and other S and Ls by assuring them that the takeover was not the beginning of a trend. Said he: "This isn't the tip of the iceberg...
While no depositors will be losing money, Pratt held out no such assurances for Fidelity's stockholders. He said bluntly that the Government does not "protect stockholders, who are in the position of providing risk capital." The controlling interest of Fidelity is held by its longtime president, A.C. Meyer Jr., his former wife, Yvonne Eastman, and Philip H. Angell, a San Francisco attorney...
...institutions interested in acquiring Fidelity. Representatives of 32 companies, two-thirds of them other S and Ls', showed up. The FSLIC said it would accept offers for Fidelity during the next 30 days and hopes the troubled institution will be taken over by another company within three months. Pratt and Yang announcing the takeover
...savings banks and S and Ls from financial failure. These thrift institutions are losing money at a catastrophic clip because they must now pay an average of 11.6% interest to attract deposits, while the mortgages and other assets on their books are earning only an average of 10.1%. Richard Pratt, chairman of the Federal Home Loan Bank Board, said last week that about 80% of the 3,900 federally insured savings and loan associations lost money in 1981 and that some 400 of them will run out of capital to absorb losses by the end of the year unless interest...