Preliminary Inquiry Into Allegations Regarding Senators Cranston, DeConcini, Glenn, McCain and Riegle, and Lincoln Savings and Loan: Open Session Hearings Before the Select Committee on Ethics, United States Senate, One Hundred First Congress, Second Session, November 15, 1990, Through January 16, 1991 : Exhibits of Special Counsel, Volume 4U.S. Government Printing Office, 1991 |
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Página 29
... asset value that is dramatic . And as you've seen from our failure study , isn't just material , it is gigantic , the typical loss on these assets . So he looks at book returns by problem shops which are unreliable and ignores the loss ...
... asset value that is dramatic . And as you've seen from our failure study , isn't just material , it is gigantic , the typical loss on these assets . So he looks at book returns by problem shops which are unreliable and ignores the loss ...
Página 31
... assets were $ 175 million , and they put a direct investment of approxi- mately $ 40 million into raw land . And the examiners have said , there's no doubt that's going to be a loss , a major loss . That , to me , is a factor in the ...
... assets were $ 175 million , and they put a direct investment of approxi- mately $ 40 million into raw land . And the examiners have said , there's no doubt that's going to be a loss , a major loss . That , to me , is a factor in the ...
Página 32
... assets , one institution was 280 million . Direct investments was 62 million , 22 percent of assets in that particular institution ; 220 million , 15 million involving direct investments . In other words , a significant percentage of ...
... assets , one institution was 280 million . Direct investments was 62 million , 22 percent of assets in that particular institution ; 220 million , 15 million involving direct investments . In other words , a significant percentage of ...
Página 34
... assets in September of '86 for these institutions was in my notes here -- 3.345 percent , as opposed to their return on assets in December of '83 , which was 0.66 percent ? MR . SAHADI : Correct . We characterized , or we compared them ...
... assets in September of '86 for these institutions was in my notes here -- 3.345 percent , as opposed to their return on assets in December of '83 , which was 0.66 percent ? MR . SAHADI : Correct . We characterized , or we compared them ...
Página 35
... assets even at that time , of 1.72 percent . But by September of this year , just several months ago , those same eleven institutions which remained were reporting average negative net worth of 9.692 percent and an average negative ...
... assets even at that time , of 1.72 percent . But by September of this year , just several months ago , those same eleven institutions which remained were reporting average negative net worth of 9.692 percent and an average negative ...
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Palavras e frases frequentes
1986 examination ACC and Lincoln ACC's agency AMCOR American Continental Corporation approval Arizona asked assets ATTORNEY WORK PRODUCT believe California Department capital Chairman Gray Charles Keating CONGRESS THE LIBRARY conservatorship corporate aircraft dated December DEPOSITION OF ROSEMARY direct investment regulation Director discussed Dochow document Ed Gray Enforcement FDIC Federal Home Loan FHLBB filed flights taken FSLIC GALLAGHER Gray's Henkel Home Loan Bank House Banking Committee industry institutions investigation issue JIM GROGAN John McCain Keating KIELTY leaks letter Lincoln Savings Loan Association Loan Bank Board LSAC MCALEER meeting million MURPHY November October 26 operations percent Phoenix PNCCAIN portfolio PRODUCT CONFIDENTIAL proposed question real estate regulatory request ROSEMARY STEWART VOL San Francisco savings and loan schedule Senator DeConcini Senator McCain SPECIAL COUNSEL EX staff STEVENS ATTORNEY STICKLEY & SCHUTZMAN subsidiary talking testimony thrift told transactions Washington WITNESS
Passagens conhecidas
Página 1132 - THEREFORE, for and in consideration of the premises and the other mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: 1 . Appointment of Escrow Agent.
Página 538 - ... shall be the sole agent for each subsidiary in the group, duly authorized to act in its own name In all matters relating to the tax liability for the consolidated return year. No subsidiary shall have authority to act for or to represent itself In any such matter.
Página 449 - Smith, Jr., and George J. Benston protested that the constraint imposed by the Direct Investment Regulation was economically inefficient, bore no causal relationship to thrift failures, constituted a bar to 'an investment option that is necessary to the financial health and, in many cases, the survival of savings and loan associations...
Página 420 - In reaction to these developments in the industry which made it impossible for thrifts to attract and maintain deposits, Congress passed the Depository Institutions Deregulation and Monetary Control Act of 1980, which eliminated the interest rate ceiling and lifted certain restrictions that impeded competition among different types of financial institutions, when it became evident that thrifts needed even greater freedom to compete with other institutions and to make investments that had less interest...
Página 194 - District for all examination and supervision purposes. 24. The parties acknowledge that they have voluntarily entered into this Memorandum of Understanding solely to resolve all outstanding issues between them. Neither this Memorandum of Understanding, nor the compromise and settlement provided for therein, nor any statements made, action taken, or documents prepared in connection with the negotiation, execution, or implementation of the Memorandum of Understanding, shall be deemed or construed as...
Página 442 - November 1984 operating plan projects asset growth of 41% during 198S, to a total of $3.16 billion, 50% in 1986, to a total of $4.7 billion, and 33% for 1987, to a total of $6.3 billion. Virtually none of Lincoln's asset growth since its acquisition is attributable to its home mortgage portfolio, but is instead comprised of investments in non-investment grade bonds, equity securities, purchases of raw land and ADC loans.
Página 448 - ACC had rescued Lincoln with the expressed intent, and apparent regulatory blessing, to improve Lincoln's investments in real estate, high-yield securities and other non-traditional areas in the deregulated environment. As described above, ACC's acquisition of Lincoln was premised upon its ability to manage Lincoln consistent with the deregulation philosophies expressed both in Congress and in the California legislature. ACC and Lincoln believed strongly that the limitations set forth in the Direct...
Página 535 - We do not share Kenneth Leventhal's confidence that theirs is the only correct application of the 200 pages of accounting principles appended to its report. In fact, we also question any alleged analysis which contains the . . . extraordinary, gratuitous and, I believe, unprofessional statement they made [questioning the economic substance of any major Lincoln transaction based solely on a limited review of only IS transactions ] . Gladstone's colleague, Nancy A.
Página 181 - SF") commenced an examination of Lincoln on March 13, 1986, which resulted in a Report of Examination dated April 20, 1987; Lincoln filed a written response dated June 26, 1987; the Office of Enforcement of the FHLBB...
Página 478 - ... the conduct of the Federal Reserve Board, the Office of the. Comptroller of the Currency, the Federal Deposit Insurance Corporation, the...