Word: thrifts
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...amid loud fanfare exactly one year ago, the price tag has grown from a White House projection of $166 billion over 10 years to what some experts now fear could be a $1 trillion bill spread over 30 years as the government shuts down nearly half the entire thrift industry. The White House's own current forecast projects a cleanup cost of at least $500 billion over the next 40 years. That includes $160 billion to be used mainly to pay insured depositors at shuttered thrifts plus some $340 billion of interest on the government bonds that will finance...
...hands were cuffed. The OTS ((Office of Thrift Supervision)) had a long- standing rule of confidentiality of these proceedings. I'm happy that the doors are open. I'm ready to come out swinging. I've taken enough abuse. You know, in January I was so overwhelmed. It just exploded into a public nightmare for me. So I reacted, frankly, by not taking as much care of myself. I worried about it. I read all the newspaper stories. I worried about what the next leak was going to be. I worried about the impact on Dad and my role...
...Despite being in charge when the multibillion-dollar casino was opened, Republicans have been feigning shock -- shock! -- that any gambling was going on at all. The Administration has belatedly been making a great show of prosecuting the most egregious offenders. Just last week the government charged high-profile Dallas thrift owner Edwin McBirney III with 17 counts of bank fraud. Cleaning up the mess at his Sunbelt Savings Association of Texas, which was taken over by regulators in 1986, has so far cost $2 billion...
Despite his lack of success as a wildcatter, Bush became an outside director of Silverado in 1985. Although he says the officers and other directors of the bank were aware of his connections to Walters and Good, the knowledge seems to have been spotty. The Office of Thrift Supervision has accused Bush of "one of the worst kinds of conflict of interest" for not disclosing that he would benefit from extending a $900,000 line of credit to Good for an Argentine oil- exploration deal. Bush argues -- and has documents to corroborate the claim -- that everyone knew...
...President defends Neil Bush, who could be a target of a $200 million federal suit in the collapse of a Colorado thrift. -- Cover-up? Critics charge that a study of Agent Orange was sabotaged...