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Vernon Savings and Loan (Dallas, TX), led by Don Dixon, which on resolution had 94 percent of loans non-performing; and; Columbia Savings and Loan (Beverly Hills, CA), led by Thomas Spiegel, was closed in January 1991 at the cost of $3.25 billion. [87] Especially publicized was the insolvency of Lincoln Savings and Loan Association, led by ...
Gibraltar Savings failed in December 1988, at which time it was the largest thrift in Texas. Under the Federal Home Loan Bank Board and Federal Savings and Loan Insurance Corporation's Southwest Plan, five failed Texas thrifts with total assets of $12.2 billion were combined.
The U.S. savings and loan crisis of the 1980s and early 1990s was the failure of 747 savings and loan associations in the United States. The ultimate cost of the crisis is estimated to have totaled around $160.1 billion, about $124.6 billion of which was directly paid for by the U.S. federal government. [1]
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Sunbelt Savings Irving: Texas: 1991 $6.0 billion $13 billion Western Savings and Loan: Phoenix: Arizona: 1989 $5.7 billion $14 billion Columbia Savings & Loan Assn. Beverly Hills: California: 1991 $5.4 billion $12 billion Lincoln Savings and Loan Association: Irvine: California: 1989 $4.9 billion $12 billion California National Bank: Los ...
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Charles Humphrey Keating Jr. (December 4, 1923 – March 31, 2014) was an American sportsman, lawyer, real estate developer, banker, financier, conservative activist, and convicted felon best known for his role in the savings and loan scandal of the late 1980s. Keating was a champion swimmer for the University of Cincinnati in the 1940s.
RTC literature in the Federal Deposit Insurance Corporation history exhibit. The Resolution Trust Corporation (RTC) was a U.S. government-owned asset management company first run by Lewis William Seidman and charged with liquidating assets, primarily real estate-related assets such as mortgage loans, that had been assets of savings and loan associations (S&Ls) declared insolvent by the Office ...