May 13, 1987 |
Financial Corp. of America said Tuesday that it has been holding discussions with half a dozen companies--including HF Holdings--that are interested in acquiring long-ailing Irvine-based FCA and its American Savings & Loan Assn. subsidiary. HF Holdings, headed by former Treasury Secretary William E. Simon and former Federal Reserve Board Vice Chairman Preston Martin, acknowledged that it is gathering information and holding "very preliminary" talks with FCA officials about a possible purchase.
May 19, 1987 |
William E. Simon, former Secretary of the Treasury and a highly successful investor in recent years, is investing these days in money-losing or even insolvent savings and loan companies--that is, in some of the worst casualties of what may be the most troubled industry in the United States.
February 27, 1987 |
Pacific Savings Bank, under regulatory pressure to shore up its finances, is negotiating a possible merger with an aggressive new company headed by former Treasury Secretary William E. Simon and former Federal Reserve Board Vice Chairman Preston Martin. Officers at HF Holdings Inc. in San Francisco have been talking extensively with Pacific Savings managers and with federal regulators since last September, according to Gerald Parsky, an HF partner and spokesman.
April 24, 1985 |
The vice chairman of the Federal Reserve Board warned Tuesday that the nation is on the verge of a "growth recession" and that faster money growth and lower interest rates may be needed to counter it. Preston Martin told a foreign policy conference at the State Department that "a growth recession must be considered a real threat. In fact, the data currently available suggest that the economy is on the edge between healthy, sustainable growth and a growth recession."
July 30, 1986
The Senate Banking Committee unanimously approved the nomination of Manuel Johnson to be vice chairman of the Federal Reserve. Johnson, a member of the Fed, would serve a four-year term if approved by the full Senate. The position was recently vacated by Preston Martin, who resigned.
October 11, 1985
Federal Reserve Vice Chairman Preston Martin told a House committee that Fed governors reluctantly support legislation that would force banks to declare in advance how long their customers must wait before writing checks on their deposits. He conceded that banks had failed to set up a system voluntarily. But he said the Fed still opposes writing into law a timetable on so-called check holds.