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Harold H Metzenbaum

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BUSINESS
May 2, 1990 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
It would have been cheaper for the government to shut down First Gibraltar, a failing Texas savings and loan, than it was to sell it to billionaire financier Ronald O. Perelman, according to a federal regulator who analyzed the deal. First Gibraltar was sold as part of a flurry of deals in December, 1988, just before the expiration of key tax breaks. Perelman received government subsidies of $5 billion in cash and guarantees plus $1.2 billion in tax breaks.
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BUSINESS
May 2, 1990 | ROBERT A. ROSENBLATT, TIMES STAFF WRITER
It would have been cheaper for the government to shut down First Gibraltar, a failing Texas savings and loan, than it was to sell it to billionaire financier Ronald O. Perelman, according to a federal regulator who analyzed the deal. First Gibraltar was sold as part of a flurry of deals in December, 1988, just before the expiration of key tax breaks. Perelman received government subsidies of $5 billion in cash and guarantees plus $1.2 billion in tax breaks.
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