Word: topeka
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...money to the Denver Symphony," recalls an associate. Chuck Henning, former executive director of the Colorado Savings & Loan League, notes that "Wise was image-conscious and was going through all the proper steps; he was close to ((federal regulator)) Kermit Mowbray, head of the Home Loan Bank Board in Topeka, and everybody figured he was being groomed to become president of the U.S. League of Savings and Loan Institutions...
...self-assured Wise, who contributed handsomely to political campaigns, enjoyed the support of such influential officeholders as Colorado's Democratic Congressman Timothy Wirth, who later graduated to the Senate. Wise served two terms on the board of the Federal Home Loan Bank of Topeka, which regulates thrifts in the region. He even served as chairman of the regulatory policy committee for the U.S. League, the most influential S&L lobbying group. Openly, the League poured millions of dollars into political campaigns through its PAC. Says Edwin Gray, former chairman of the Federal Home Loan Bank Board: "I don't think...
...services regulator, told a congressional panel, "Silverado spared no expense to convince the regulators of their prudence." Paul said Silverado had brought "enormous management, consulting, accounting and legal resources to bear to rebut regulators' concerns." And the fast-talking Wise had the ear of Mowbray, the chief regulator in Topeka, who seemed to give Silverado the benefit of every doubt...
...million loss. Wise began publicly looking for a buyer to bail out the company. Silverado was insolvent, and Bush glibly announced that he was resigning because his father had been nominated as the Republican presidential candidate. On Oct. 24 the Colorado regulators notified their federal counterparts in Topeka that the hemorrhaging Silverado would be shut down at the end of the month...
...pushing to clean up the savings and loan mess, have federal regulators acted too hastily in declaring some thrifts insolvent? A federal judge in Topeka thinks so in at least one case. Last week he ordered the Office of Thrift Supervision to return control of an S&L to its original owners on the ground that the agency used "arbitrary and capricious" accounting methods to justify seizing the thrift, Franklin Savings (assets: $9.3 billion) of Ottawa, Kans...