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BUSINESS
September 22, 1990 | JAMES BATES, TIMES STAFF WRITER
An economist well known for his pessimistic warnings about the financial health of the banking industry said Friday that he has been ousted from a non-paying position at a Stanford research center because of controversial comments he made on ABC's "Nightline" program. R. Dan Brumbaugh said the decision by administrators at Stanford's Center for Economics Policy Research stemmed from comments he made on a July 31 appearance on the program with Federal Deposit Insurance Corp. Chairman L.
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BUSINESS
September 22, 1990 | JAMES BATES, TIMES STAFF WRITER
An economist well known for his pessimistic warnings about the financial health of the banking industry said Friday that he has been ousted from a non-paying position at a Stanford research center because of controversial comments he made on ABC's "Nightline" program. R. Dan Brumbaugh said the decision by administrators at Stanford's Center for Economics Policy Research stemmed from comments he made on a July 31 appearance on the program with Federal Deposit Insurance Corp. Chairman L.
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BUSINESS
December 15, 1990 | From Associated Press
Most of the nation's largest banks are teetering on the brink of insolvency and tax money must quickly be injected into the government fund insuring deposits, warns a congressional report due out Monday. Bank failure costs could total $63 billion in a severe recession, it said. Even the mild downturn expected by most economists would leave the fund short of cash, said the report, which was written by three economists at the request of a congressional subcommittee.
BUSINESS
October 2, 1988
Regarding the Sept. 25 Viewpoints column, "Deposit Insurance Should Be Rolled Back: Take Federal Support Away, and Banks and Thrifts Will Do a Better Job": R. Dan Brumbaugh Jr.'s proposal to reduce federal deposit insurance would leave widows, the disabled and the retired vulnerable to the risk of losing their savings and the moderate interest income they rely on for their support. People in these situations put the funds they have saved or received from insurance as a result of personal catastrophes in federally insured accounts precisely because they know what can happen to money "invested" for them by stockbrokers and financial advisers.
BUSINESS
September 9, 1990
The headline on the July 29 story "Federal Credit Unions Offer Safety, Great Deals" couldn't have been better, or more accurate, from my point of view. But what I read in the third paragraph caused me some real problems: "Make sure that its (the credit union's) capital-to-assets ratio is at least 6%, Patrick Keefe of the National Assn. of Federal Credit Unions suggests." I did, in fact, say words to that effect. But those words have caused grave concern among credit unions in Los Angeles and elsewhere.
BUSINESS
January 2, 1993 | From Times Staff and Wire Reports
The combined total of bank and savings association failures dropped to a seven-year low in 1992, but analysts aren't sure if the worst is over for the nation's deposit-taking institutions, especially in recession-weary California. Regulators said there were 181 failures last year, 122 banks and 59 S&Ls. That's down from 295 in 1991 and less than half the number during the post-Depression peak year of 1989 when 535 financial institutions were declared insolvent.
BUSINESS
November 7, 1988 | Associated Press
In the eyes of some industry observers, the nation's savings industry, facing an expensive internal crisis, is trying to have it both ways--more government protection and less government regulation. The industry's oldest and largest trade group--the U.S. League of Savings Institutions--says Congress should preserve S&Ls as a separate system because they're important to home lending.
BUSINESS
November 15, 1988 | Associated Press
The expected selection of Rep. Henry B. Gonzalez (D-Texas) as chairman of the House Banking, Finance and Urban Affairs Committee may further fragment an already divided panel and delay a solution to the savings and loan crisis, analysts say. Gonzalez, a hot-tempered, outspoken maverick, is considered the most likely successor to Rep. Fernand J. St Germain (D-R.I.), who was defeated last week in his bid for a 15th term.
BUSINESS
November 19, 1989 | James Flanigan
It's only muffled thunder so far, but concerned comment about the nation's banks is increasing, raising fears of a rerun of the savings and loan crisis. Prominent experts are quick to say that the banking system is relatively sound, and what they are recommending is tonic for a healthy patient, not medicine for a sick one. But having said that, they express concern.
BUSINESS
October 10, 1989 | From Associated Press
Despite a string of record profits, hundreds of commercial banks and the government insurance fund that guarantees their deposits are far less healthy than they seem, analysts say. The warnings are making members of Congress nervous just two months after they enacted a $50-billion, three-year bailout of the savings and loan industry.
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