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BUSINESS
October 8, 1993
RNG Mortgage Service, one of Orange County's 10 largest mortgage bankers, said Thursday that it has been bought by Dallas' Bluebonnet Savings Bank. The price was not disclosed, but RNG said the deal was valued at several million dollars. RNG said Bluebonnet, which has has $3 billion in assets, wants to expand still further in the West by opening offices in Northern California, Utah and Denver. "If anything, we're hiring," said Ron Norick, president and chief executive of RNG.
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BUSINESS
October 8, 1993
RNG Mortgage Service, one of Orange County's 10 largest mortgage bankers, said Thursday that it has been bought by Dallas' Bluebonnet Savings Bank. The price was not disclosed, but RNG said the deal was valued at several million dollars. RNG said Bluebonnet, which has has $3 billion in assets, wants to expand still further in the West by opening offices in Northern California, Utah and Denver. "If anything, we're hiring," said Ron Norick, president and chief executive of RNG.
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NEWS
July 8, 1990 | From Reuters
In what congressional investigators call the worst abuse of the federal bailout program, an Arizona businessman with a history of legal problems was allowed to buy insolvent Texas savings and loans and was promised $1.85 billion in federal subsidies, a published report said. James M.
BUSINESS
September 12, 1990 | DOUGLAS FRANTZ, TIMES STAFF WRITER
A former aide to President Bush told a Senate hearing Tuesday that he did nothing wrong when he helped an Arizona insurance executive acquire 15 failed Texas savings and loans and suggested that he is a victim of politics. "Until this committee began looking into this transaction, I had been very proud of that transaction and the way it had occurred," Washington lobbyist Robert J. Thompson testified before a Senate Judiciary Committee panel.
BUSINESS
August 7, 1990 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
The chairman of a Senate Judiciary subcommittee investigating the government's sales of failed savings and loans in late 1988 said Monday that regulators would save "millions and possibly billions of dollars" if they sought to reopen some of those deals. Sen. Howard M. Metzenbaum (D-Ohio), the panel chairman, said federal regulators "couldn't possibly have known what they were doing" as they rushed to complete the selloff of troubled S&Ls in the final days of 1988.
BUSINESS
September 12, 1990 | DOUGLAS FRANTZ, TIMES STAFF WRITER
A former aide to President Bush told a Senate hearing Tuesday that he did nothing wrong when he helped an Arizona insurance executive acquire 15 failed Texas savings and loans and suggested that he is a victim of politics. "Until this committee began looking into this transaction, I had been very proud of that transaction and the way it had occurred," Washington lobbyist Robert J. Thompson testified before a Senate Judiciary Committee panel.
NEWS
August 2, 1990 | Douglas Frantz, This article was reported by Douglas Frantz, Ronald J. Ostrow and Douglas Jehl, and written by Frantz
The FBI has launched a major investigation into allegations of political favoritism and influence peddling in connection with the government's sale to private investors of dozens of insolvent savings and loans in Texas, knowledgeable sources said Wednesday. One federal regulator said in an interview that he was offered immunity by an FBI agent in return for testimony about deals in which billion-dollar taxpayer subsidies went to "political favorites."
NEWS
July 27, 1990 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
Some of the nation's largest and toughest law firms, noted for their aggressive tactics in takeovers and merger battles, say that they are willing to represent the federal government to help overturn controversial 1988 sales of dozens of S&Ls to private investors. The law firms would operate on a contingency basis to investigate and renegotiate the 1988 deals, which provided federal subsidies of $29 billion for buyers who were willing to purchase distressed S&Ls, Sen. Howard M.
BUSINESS
December 6, 1993
RNG Mortgage Service, a Santa Ana mortgage bank, said Friday it has opened four new offices and added 30 employees, bringing its total staff to 168. The company has added offices in Santa Ana, Woodland Hills, West Covina and its first Northern California office, in the city of Alamo. RNG, which handles more than $500 million in real estate loans annually, was recently purchased by Bluebonnet Savings Bank, a $3-billion financial institution in Dallas that provides single-family home mortgages.
CALIFORNIA | LOCAL
July 23, 1990
It is appropriate during this era of rapprochement that we should extend our expertise in democratic techniques to the Soviet Union. President Bush says that it is our intention to assist the Soviets in setting up banking systems. He need look no farther than his own family for that expertise, as his son Neil has demonstrated his ability with Reaganomic accounting procedures. Or there is in his own state of Texas a Mr. James Fail who with $1,000 set up the multimillion-dollar Bluebonnet Savings Bank in Dallas (Part A, July 8)
BUSINESS
August 7, 1990 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
The chairman of a Senate Judiciary subcommittee investigating the government's sales of failed savings and loans in late 1988 said Monday that regulators would save "millions and possibly billions of dollars" if they sought to reopen some of those deals. Sen. Howard M. Metzenbaum (D-Ohio), the panel chairman, said federal regulators "couldn't possibly have known what they were doing" as they rushed to complete the selloff of troubled S&Ls in the final days of 1988.
NEWS
August 2, 1990 | Douglas Frantz, This article was reported by Douglas Frantz, Ronald J. Ostrow and Douglas Jehl, and written by Frantz
The FBI has launched a major investigation into allegations of political favoritism and influence peddling in connection with the government's sale to private investors of dozens of insolvent savings and loans in Texas, knowledgeable sources said Wednesday. One federal regulator said in an interview that he was offered immunity by an FBI agent in return for testimony about deals in which billion-dollar taxpayer subsidies went to "political favorites."
NEWS
July 27, 1990 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
Some of the nation's largest and toughest law firms, noted for their aggressive tactics in takeovers and merger battles, say that they are willing to represent the federal government to help overturn controversial 1988 sales of dozens of S&Ls to private investors. The law firms would operate on a contingency basis to investigate and renegotiate the 1988 deals, which provided federal subsidies of $29 billion for buyers who were willing to purchase distressed S&Ls, Sen. Howard M.
NEWS
July 8, 1990 | From Reuters
In what congressional investigators call the worst abuse of the federal bailout program, an Arizona businessman with a history of legal problems was allowed to buy insolvent Texas savings and loans and was promised $1.85 billion in federal subsidies, a published report said. James M.
BUSINESS
August 6, 1990 | From Times Wire Services
Businessman James Fail, who bought 15 failed Texas savings and loans with only $1,000 of his own money, told Congress today that the deal was saving American taxpayers hundreds of millions of dollars. Fail told a Senate Antitrust subcommittee hearing that the thrifts were losing $2 million a day before he bought them in 1988 and combined them into the profitable Bluebonnet Savings Bank of Dallas.
BUSINESS
July 9, 1990
The chairman of a Senate panel said today it will subpoena former top thrift regulator M. Danny Wall and a former aide to President Bush to explain how an Arizona man could buy 15 failing Texas savings and loans by putting up only $1,000 of his own money. "I expect each of them. . . . They owe the public an explanation," said Sen. Howard M. Metzenbaum (D-Ohio), chairman of the Senate subcommittee on antitrust, monopolies and business rights.
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