January 23, 1987
Testifying before a House committee, Treasury Under Secretary George D. Gould and Chairman Edwin J. Gray of the Federal Home Loan Bank Board urged quick action on their year-old plan to raise at least $15 billion for the Federal Savings and Loan Insurance Corp. The money would come from the sale of bonds, industry premium fees and investment in long-term government securities. The U.S.
October 30, 1985 |
A White House spokesman Tuesday denied news reports that presidential Chief of Staff Donald T. Regan is trying to oust Federal Home Loan Bank Board Chairman Edwin J. Gray. "I've checked very carefully in the highest levels of the White House, and I can say unequivocally that no pressure is being put on (Gray) to resign," the spokesman said. "I see no reason why Mr. Gray shouldn't be able to serve out his term."
September 5, 1986
Donald I. Hovde said he withdrew his resignation from the Federal Home Loan Bank Board, which had been scheduled to take effect last Sunday, until a new member of the board is appointed by President Reagan. Had Hovde resigned, it would have left the three-member board, which regulates savings and loans, with just one member--its chairman, Edwin J. Gray. By law, the board cannot operate without a two-member quorum.
CALIFORNIA | LOCAL
December 5, 1989
I feel I must comment on the tasteless Conrad cartoon (Who shot Lincoln S&L?--"A. Charles Keating B. Edwin J. Gray C. M. Danny Wall D. John Glenn E. Dennis DeConcini F. Alan Cranston G. John McCain H. Donald Riegle I. All of the above and more," Nov. 27). I do not know which is more tasteless, re-enacting the assassination in reference to a savings and loan scandal or captioning it with the names of eight men who at best have used poor judgment or at worst knowingly committed criminal acts!
March 21, 1987
The Federal Home Loan Bank Board is seeking a buyer for Financial Corp. of America, the holding company for American Savings & Loan, an industry trade paper said Friday. Quoting unidentified sources in Washington, National Thrift News said that regulators are making a "top priority" of finding a buyer for Irvine-based FCA before Edwin J. Gray leaves as bank board chairman. Gray, who is scheduled to leave the post at the end of June, could not be reached for comment.
November 5, 1985 |
Norman Raiden, general counsel of the Federal Home Loan Bank Board, has resigned, effective Dec. 20. Raiden, a former partner in the Los Angeles-based law firm of McKenna, Conner & Cuneo, has served for two years at the FHLBB, which regulates the nation's savings and loan industry. His resignation comes as FHLBB Chairman Edwin J. Gray is reportedly facing pressure from the Reagan Administration to resign.
November 9, 1986 |
President Reagan announced Friday he was making two recess appointments to the Federal Home Loan Bank Board, an agency that has lacked a quorum to make policy decisions for the last three weeks. Reagan said he was using his power to bypass the Senate confirmation process to immediately put Lee Henkel Jr. and Lawrence J. White on the board, which regulates the nation's savings and loan industry. Henkel, an Atlanta attorney and businessman, will succeed Donald I. Hovde.
September 24, 1986 |
The House Banking Committee passed an emergency banking bill Tuesday to give federal regulators more power to deal with failing banks and savings associations. The bill would refinance the Federal Savings and Loan Insurance Corp. (FSLIC), which insures savings accounts at federal savings and loan associations, and give banking agencies more power to arrange out-of-state acquisitions for failing financial institutions. The legislation, approved 47 to 1, now goes to the full House.
June 15, 1986
Three of the nation's leading real estate tax specialists will examine the implications of proposed tax reform legislation at the annual Mid-Year Real Estate & Economic Forecast Seminar June 27 at the Westin Bonaventure Hotel in Los Angeles, and June 30 at the Anaheim Hilton Hotel. Michael S. Carliner of the National Assn. of Home Builders, Paul D. Koehler of Laventhol & Horwath, and Stan Ross of Kenneth Leventhal & Co.