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Richard T Pratt

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NEWS
September 16, 1990
CHARLES H. KEATING, Jr. S&L owner Recently rebuffed in his attempt to regain control of Lincoln Savings, Keating quit last month as chief executive of American Continental, Lincoln's former owner. The resignation came after a federal judge accused Keating of looting the now-insolvent thrift. The 66-year-old financier, who lives in Phoenix, says he's broke.
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NEWS
September 16, 1990
CHARLES H. KEATING, Jr. S&L owner Recently rebuffed in his attempt to regain control of Lincoln Savings, Keating quit last month as chief executive of American Continental, Lincoln's former owner. The resignation came after a federal judge accused Keating of looting the now-insolvent thrift. The 66-year-old financier, who lives in Phoenix, says he's broke.
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BUSINESS
March 5, 1989 | TOM FURLONG, Times Staff Writer
By now, it is well known that the crisis in the nation's savings and loan industry resulted largely from fast-growth lending practices that went bust. Less well known is the role of policy makers and industry leaders who, however well-intentioned, helped create conditions that would later prove disastrous. As the public looks for people to blame for the S&L crisis, attention has focused largely on S&L managers who were either inept or corrupt.
BUSINESS
March 5, 1989 | TOM FURLONG, Times Staff Writer
By now, it is well known that the crisis in the nation's savings and loan industry resulted largely from fast-growth lending practices that went bust. Less well known is the role of policy makers and industry leaders who, however well-intentioned, helped create conditions that would later prove disastrous. As the public looks for people to blame for the S&L crisis, attention has focused largely on S&L managers who were either inept or corrupt.
BUSINESS
October 10, 1986 | Associated Press
Regulators must have flexibility to work out solutions for troubled banks without being concerned that they will be sued for their actions, a federal judge ruled Thursday. U.S. District Judge Stanley Sporkin said he doubts that bank regulators would make the tough decisions necessary if they were going to be sued for damages every time they did.
BUSINESS
December 5, 1989 | JAMES BATES, TIMES STAFF WRITER
The resignation of M. Danny Wall as the country's top thrift regulator has raised a bigger question: Is his job necessary? The agency he resigned from Monday, the Office of Thrift Supervision, is less than four months old, having been created this summer as part of the savings and loan bailout signed by President Bush in August. Under Wall's tenure, it has been a demoralized, embattled successor to the Federal Home Loan Bank Board, with considerably less responsibility.
NEWS
September 16, 1990 | BARRY BEARAK and TOM FURLONG, TIMES STAFF WRITERS
The $500 billion has vanished down a hole in the front yard, gone under the fine, green lawn that is bordered by a white picket fence, lost into that benign part of the American dream known as owning a home of your own. That was what savings and loan companies were for, to help the home buyer fulfill the dream. For years, they did. Then the S&Ls began to "crater," to use a favorite industry term. Good money chased bad down the maw. In the midst of it, the Pinocchios and Magoos of the U.S.
BUSINESS
March 19, 1990 | JAMES BATES, TIMES STAFF WRITER
If there was a right-to-die law for thrifts, Gibraltar Savings might be the first to use it. The Simi Valley savings and loan was seized by regulators a year ago this month. It was revamped to stem the flow of red ink. Its risky securities were sold. In the eyes of the executives who run Gibraltar for the government, it could be sold tomorrow. For all practical purposes, the last rites for Gilbraltar as an independent thrift could then be observed.
BOOKS
July 2, 1989 | Penny Lernoux, Lernoux is the author of "In Banks We Trust." Her most recent book is "People of God: The Struggle for World Catholicism" (Viking)
A few years ago, when the banking industry was undergoing one of its periodic crises, a spate of television documentaries tried to capture the wheeler-dealer atmosphere that had led to so many spectacular bank failures. But explaining Byzantine financial plays to ordinary viewers wasn't easy, as admitted by one obviously frustrated commentator. "Now pay attention," she told the audience, waving a pointer at a spidery diagram, "because this is real complicated."
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