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BUSINESS
June 21, 1991 | From Times Staff and Wire Reports
Report on RTC's Cooke Denied: A spokesman for L. William Seidman, director of the Federal Deposit Insurance Corp., denied published reports that, Resolution Trust Corp. director David C. Cooke would be fired at the behest of the Bush Administration in response to growing criticism in Congress of the Savings & Loan cleanup effort. The Administration has long been unhappy with Cooke, feeling he lacks the expertise to oversee the sale of billions of dollars in assets held by the RTC.
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OPINION
October 20, 1991
The article on the Resolution Trust Corp.'s nationwide real estate computerized database, "S&L Agency's Sales Data Found Seriously Flawed" (Sept. 25), is fraught with inaccurate and outdated information. The characterization of RTC's Real Estate Owned Management System as being "rendered virtually useless by missing and confusing data" begs the question as to who is being confused. Certainly not the people served by this system. Contrary to the suggestion that REOMS will not be fully functional before the end of the year, all of RTC's regional, field and sales offices--totaling more than 2,500 users--have been connected to the system since July 15. The article significantly distorts the cost of developing REOMS.
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OPINION
October 20, 1991
The article on the Resolution Trust Corp.'s nationwide real estate computerized database, "S&L Agency's Sales Data Found Seriously Flawed" (Sept. 25), is fraught with inaccurate and outdated information. The characterization of RTC's Real Estate Owned Management System as being "rendered virtually useless by missing and confusing data" begs the question as to who is being confused. Certainly not the people served by this system. Contrary to the suggestion that REOMS will not be fully functional before the end of the year, all of RTC's regional, field and sales offices--totaling more than 2,500 users--have been connected to the system since July 15. The article significantly distorts the cost of developing REOMS.
BUSINESS
June 21, 1991 | From Times Staff and Wire Reports
Report on RTC's Cooke Denied: A spokesman for L. William Seidman, director of the Federal Deposit Insurance Corp., denied published reports that, Resolution Trust Corp. director David C. Cooke would be fired at the behest of the Bush Administration in response to growing criticism in Congress of the Savings & Loan cleanup effort. The Administration has long been unhappy with Cooke, feeling he lacks the expertise to oversee the sale of billions of dollars in assets held by the RTC.
NEWS
March 26, 1997
Martin Caidin, 69, whose novels "Marooned" and "Cyborg" were the basis of a motion picture and a television series, respectively. Caidin's books were turned into the 1969 film "Marooned" starring Gregory Peck and the popular 1970s television series "The Six Million Dollar Man," starring Lee Majors. The author, who specialized in World War II military aircraft and space subjects, was himself a pilot and stuntman who flew various aircraft in several motion pictures.
BUSINESS
November 2, 1990 | From Associated Press
Bush Administration officials decided Thursday to stave off a shutdown of the savings and loan bailout by taking advantage of a drafting error in last year's law. The mistake will let the Resolution Trust Corp. borrow up to $18.8 billion more than Congress apparently intended. The short-term borrowing, to be repaid through the sale of loans, real estate and other assets once owned by failed S&Ls, frees the agency to continue some cleanup activities into early next year.
BUSINESS
January 22, 1991 | JAMES BATES, TIMES STAFF WRITER
A Los Angeles-based thrift that was once one of the nation's largest black-owned savings and loans has been acquired by an investment group in a government-assisted transaction, federal regulators said Monday. Founders Federal Savings & Loan, seized by regulators in 1989, becomes Founders National Bank today. The new institution is now believed to be the largest black-owned commercial bank on the West Coast. Founders Federal Savings had $95.4 million in assets and $79.
BUSINESS
September 9, 1989 | JAMES S. GRANELLI, Times Staff Writer
Federal regulators on Friday put "For Sale" signs on insolvent Pacific Savings Bank and four other large savings and loans nationwide that regulators want to move as quickly as possible into new hands. Pacific Savings in Costa Mesa, thought to be a "best buy" among failed S&Ls in California last year, is one of 10 insolvent thrifts that have been put up for sale in the last three weeks. David C. Cooke, executive director of the federal Resolution Trust Corp.
BUSINESS
June 16, 1990 | MAURA REYNOLDS, TIMES STAFF WRITER
Congressional Democrats attacked the Bush Administration on Friday for keeping top executives of failed savings and loans on the payroll--at six-figure salaries in some cases--after seizing their insolvent institutions. According to figures presented to a congressional task force, 211 of the 351 savings and loan firms in government hands as of April had retained their highest-paid officer in the same position.
BUSINESS
February 10, 1990 | JERRY KNIGHT, THE WASHINGTON POST
The executive in charge of the $164-billion savings and loan cleanup quit Friday, dealing another setback to the White House's most costly domestic initiative and giving Congress a new chance to blame the Bush Administration for delays that are costing the taxpayers $10 million a day. Complaining that he was not given "the authority that I believe is essential to be effective," Daniel P. Kearney resigned as president of the Resolution Trust Corp.
BUSINESS
June 16, 1990 | MAURA REYNOLDS, TIMES STAFF WRITER
Congressional Democrats attacked the Bush Administration on Friday for keeping top executives of failed savings and loans on the payroll--at six-figure salaries in some cases--after seizing their insolvent institutions. According to figures presented to a congressional task force, 211 of the 351 savings and loan firms in government hands as of April had retained their highest-paid officer in the same position.
BUSINESS
September 21, 1990 | OSWALD JOHNSTON, TIMES STAFF WRITER
Senate Banking Committee Democrats accused Bush Administration officials Thursday of harboring "conflicts of interest" in their management of the escalating savings and loan crisis. Waving copies of a five-year-old lawsuit unearthed by committee staff members, Sen. Timothy Wirth (D-Colo.) asked the official in charge of the S&L cleanup why his agency hired a San Diego accounting firm once sued for negligence in the collapse of San Marino Savings & Loan.
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