Word: seidman
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Dates: during 1980-1989
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...more years. Fortunately for Keating, FHLBB head Gray was replaced by the very sympathetic M. Danny Wall, a former aide to Utah's Republican Senator Jake Garn. Wall transferred responsibility for Lincoln from San Francisco to Washington. At House Banking Committee hearings on Oct. 17, L. William Seidman, head of the Resolution Trust Corp. and chairman of the Federal Deposit Insurance Corporation, criticized Wall for keeping Lincoln open. As a result, the federally guaranteed cost of paying back Lincoln's depositors went up $1.3 billion, to $2.5 billion. Nationwide, the whole debacle of rescuing failing S&Ls will...
...HRAAA Overseer Gay W. Seidman '78 saidcelebrities "have every right to assume that theirname is being used and that they're not expectedto be as involved...
Kirk said Alumni Association representativesasked him if he would have the time to serve onthe Board before nominating him. And Seidman notedthat since Gore's presidential campaign ended, thesenator has been "an extraordinarily involved,active member...
...sale of ailing thrifts. Last year the FSLIC completed a flurry of deals -- 34 in December alone -- in an effort to offer investors tax breaks that expired on Dec. 31. Because of the rich payoffs guaranteed to investors in those deals, they were highly controversial. Said L. William Seidman, chairman of the FDIC: "Before we go forward, we are going to evaluate, along with the FSLIC, where we stand...
...Seidman said talks with investors will resume after the FDIC takes control of the remaining insolvent S & Ls. But since the FDIC said it would then allow only deals that were supported by the cash of the FSLIC -- a fund that is currently bankrupt -- more Government-assisted sales would seem unlikely. The FDIC might also try to renegotiate some of last year's sweet deals...