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BUSINESS
September 3, 1988 | TOM FURLONG and ROBERT A. ROSENBLATT, Times Staff Writers
Talks dragged on long into the night Friday as federal savings and loan regulators continued their marathon efforts in Washington to sell ailing American Savings & Loan to investors led by Texan Robert M. Bass. At stake is the attempt by the Federal Home Loan Bank Board to arrange the largest single rescue in the history of the savings and loan industry. Crippled by bad real estate loans, American Savings, the operating arm of Irvine-based Financial Corp.
NEWS
September 6, 1988 | ROBERT A. ROSENBLATT and TOM FURLONG, Times Staff Writers
After marathon negotiations, federal regulators announced Monday that the Robert M. Bass Group of Ft. Worth has agreed to spend $550 million to take over the ailing American Savings & Loan Assn., the nation's second-largest S&L. As an incentive to get the infusion of new capital from the Bass group, federal regulators developed a $2-billion package of assistance for American Savings, including a $500-million note. In return for its contribution, the Federal Savings and Loan Insurance Corp.
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