The most popular programs for the Savings and Loans Tag http://www.c-spanvideo.org/browse?topic=197 en-US Copyright 2013, National Cable Satellite Corporation info@c-spanarchives.org (National Cable Satellite Corporation) info@c-spanarchives.org (National Cable Satellite Corporation) Wed, 23 May 1990 00:00:00 GMT Thu, 23 May 2013 08:37:29 GMT In the second of two days of hearings, the committee examines the circumstances that led to the closing of the Silverado Savings and Loan Association. Witnesses include one of President Bush's sons, Neil Bush, who was a bank director. http://www.c-spanvideo.org/program/12381-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/12381-1 Wed, 23 May 1990 00:00:00 GMT Treasury Secretary Timothy Geithner testified in a hearing on the oversight of Troubled Asset Relief Program (TARP). He talked about the economic conditions at the beginning of the Obama Administration, placed these conditions in a historical context, and compared them with the current economic situation, emphasizing the new policies that increase the transparency and accountability of governmental stimulus spending. He also talked about the Public Private Investment Program (PPIP), specifically the potential of PPIP to generate $1 trillion in purchasing toxic assets. In his testimony he stated that economic indicators for the financial system showed signs of growth. http://www.c-spanvideo.org/program/286485-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/286485-1 Wed, 23 May 1990 00:00:00 GMT Mr. Mayer discussed his best-selling book [The Greatest-Ever Bank Robbery: The Collapse of the Savings and Loan Industry]. He explained that the cause of the "scandal" was hard for any observers, much less the general public, to grasp because it was inherently technical. He believes that most news reports also missed the point and focused on individual stories rather than the enormous scope of the problem. Mr. Mayer has written many books on the financial community and testified before the House Banking Committee last year on the savings and loan situation. http://www.c-spanvideo.org/program/15114-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/15114-1 Wed, 23 May 1990 00:00:00 GMT A hearing was held on Fannie Mae and Freddie Mac. The panelists, who were officials of the Federal Housing Finance Agency (FHFA), testified about the preservation of the assets of Fannie Mae and Freddie Mac, the status of the two companies, and the stability in the mortgage market. http://www.c-spanvideo.org/program/286799-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/286799-1 Wed, 23 May 1990 00:00:00 GMT William Black talked about his book [The Best Way to Rob a Bank Is to Own One: How Corporate Executives and Politicians Looted the S and L Industry], published by University of Texas Press. In the book he discussed the collapse of companies such as Enron, Tyco and WorldCom. The author details the strategies of corrupt CEOs and how they defeat regulatory restraints. Mr. Black talked about how the savings and loan crisis set the stage for subsequent business fraud. He argues that what he defines as "control fraud," the looting of a company for personal profit by those in control of it, is a major and growing problem. He talked about how the CEOs suborn the controls in order to defraud creditors and share holders. He also talked about problems in attempts to regulate the problems, including political intervention. He responded to questions from members of the audience. http://www.c-spanvideo.org/program/182197-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/182197-1 Wed, 23 May 1990 00:00:00 GMT This hearing begins a series of investigations into regulatory policies of the savings and loan industry in the late 1970's and the 1980's. http://www.c-spanvideo.org/program/14283-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/14283-1 Wed, 23 May 1990 00:00:00 GMT http://www.c-spanvideo.org/program/11058-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/11058-1 Wed, 23 May 1990 00:00:00 GMT http://www.c-spanvideo.org/program/11056-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/11056-1 Wed, 23 May 1990 00:00:00 GMT A hearing was held with the regulators of the banking industry to question them on their role in the economic downturn the United States was experiencing in March 2008. The hearing emphasized the markets for mortgages, credit cards, auto loans, and student loans and their interactions with the sub-prime markets. http://www.c-spanvideo.org/program/204282-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/204282-1 Wed, 23 May 1990 00:00:00 GMT During the Saturday book and author luncheon, a panel of authors talked about political, cultural and social changes. Mr. Yunus talked about the effect of microloans in developing economies and the concept of "social business". Ms. Plame talked about the proceedings that had occurred between her and the people who had released her identity while she was a covert operative and also talked about the legal obstacles in publishing her memoir. Mr. Krugman talked about his criticism towards the Bush Administration. Mr. Simmons talked about methods of youth empowerment and the role of spirituality in the completion of individual goals. Muhammad Yunus was the author of [More Than Profits: How Social Business Can End Poverty and Change the World] published by Public Affairs. Valerie Plame Wilson was the author of the forthcoming book [Fair Game] published by Simon and Schuster. Paul Krugman was the author of [Conscience of a Liberal] published by W.W. Norton. Russell Simmons was the author of [Do You!: 12 Laws to Access the Power in You to Achieve Happiness and Success] published by Gotham Books. Alan Alda, author of [Things I Learned While Talking to Myself] published by Random House, moderated. http://www.c-spanvideo.org/program/198442-2 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/198442-2 Wed, 23 May 1990 00:00:00 GMT Under Mr. Keating's management, American Continental bought the Lincoln Savings & Loan in California in 1984. It is estimated to be the largest single loss in the savings and loan crisis. The government took over Lincoln Savings and Loan and closed the thrift in 1989. Many callers questioned Keating about the [Frontline] series which aired on PBS the previous evening. http://www.c-spanvideo.org/program/12176-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/12176-1 Wed, 23 May 1990 00:00:00 GMT The committee ended eight weeks of hearings on the conduct of five senators in the failure of the Lincoln Savings and Loan, a California banking institution. The senators were accused of accepting large donations to their campaign funds from the head of the failed savings and loan in return for interfering with and discouraging federal regulators from investigating the financial dealings of Lincoln Savings and Loan. In the concluding arguments, special counsel Robert Bennett to the ethics panel singled out Senators Cranston, DeConcini and Riegle as being most responsible for preventing federal regulators from their investigation of the savings and loan. The senators denied any connections between campaign contributions and their actions concerning the federal regulators, and they accused Mr. Bennett of fabricating rules of ethical conduct to frame the senators. Mr. DeConcini was the only senator to testify during the closing arguments, saying that he intervened with regulators on behalf of the employees of the savings and loan, not just Charles Keating, head of Lincoln Savings and Loan. The ethics committee retired to determine any actions it may take against the senators, which could range from clearing the senators to recommending the Senate vote to condemn their conduct. http://www.c-spanvideo.org/program/15714-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/15714-1 Wed, 23 May 1990 00:00:00 GMT Mr. Barth talked about the savings and loan industry crisis and the role of the Federal Savings and Loan Insurance Corporation. Topics include the history of the savings and loan industry, the expense to taxpayers to save troubled institutions, the number of insolvent institutions, and the future of the industry. After his presentation Mr. Barth answered audience members' questions. The U.S. Senate has passed savings and loan legislation that is ready to go to conference committee. The House Banking Committee is in second day of marking up legislation that a subcommittee passed recently. http://www.c-spanvideo.org/program/7444-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/7444-1 Wed, 23 May 1990 00:00:00 GMT http://www.c-spanvideo.org/program/9696-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/9696-1 Wed, 23 May 1990 00:00:00 GMT Mr. Lowell and Mr. Davidson discussed the savings and loan crisis, including the investigation into the "Keating Five" scandal, and fielded questions from the call-in audience. http://www.c-spanvideo.org/program/15297-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/15297-1 Wed, 23 May 1990 00:00:00 GMT Ms. Sedlamyr responded to earlier statements by Senator DeConcini and admitted that she had advised Senator DeConcini against any association with Mr. Keating. Edwin Gray, a former top regulator, explained how the details of the April 2, 1987 meeting were first made public. He admitted that he had suggested the April 9 meeting of the senators, and his testimony largely focused on Senator Riegle's role and the ending of his own term as bank board chairman. http://www.c-spanvideo.org/program/15126-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/15126-1 Wed, 23 May 1990 00:00:00 GMT Mr. Black continued his testimony during the afternoon. http://www.c-spanvideo.org/program/15260-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/15260-1 Wed, 23 May 1990 00:00:00 GMT http://www.c-spanvideo.org/program/9837-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/9837-1 Wed, 23 May 1990 00:00:00 GMT http://www.c-spanvideo.org/program/9755-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/9755-1 Wed, 23 May 1990 00:00:00 GMT Mr. Black continued his testimony. Committee members questioned him about the clarity of warnings he and other regulators gave the "Keating Five" senators that Lincoln Savings and Loan was failing. Mr. Black was former general counsel of the Federal Home Loan Bank Board in San Francisco. He is thought to be the most damaging witness so far, and attorneys for the five senators sought to discredit his testimony. http://www.c-spanvideo.org/program/15259-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/15259-1 Wed, 23 May 1990 00:00:00 GMT http://www.c-spanvideo.org/program/11262-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/11262-1 Wed, 23 May 1990 00:00:00 GMT Senator John McCain, one of the five senators under investigation by the Senate Select Ethics committee, testified before the committee. http://www.c-spanvideo.org/program/15568-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/15568-1 Wed, 23 May 1990 00:00:00 GMT The panelists discussed the effect of discrimination in providing financial services. Risk-based pricing and high priced products have a strongly negative effect on those who use them. The panelists argue that in many cases race and socioeconomic class are correlated with financial institutions selling these difficult to manage services to their customers. They answered questions from the audience. http://www.c-spanvideo.org/program/285323-4 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/285323-4 Wed, 23 May 1990 00:00:00 GMT http://www.c-spanvideo.org/program/10972-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/10972-1 Wed, 23 May 1990 00:00:00 GMT http://www.c-spanvideo.org/program/10974-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/10974-1 Wed, 23 May 1990 00:00:00 GMT This panel discussed how the average citizen and consumer could be affected by the crises in banking and finance and the possible future consequences of personal investments. http://www.c-spanvideo.org/program/22430-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/22430-1 Wed, 23 May 1990 00:00:00 GMT Ms. Jordan, a banking aide to Senator Cranston, denied that she had tried to influence regulators to ignore Lincoln Savings and Loan's increasing problems in 1988. The thrift, owned by Charles Keating, has since failed, and Keating has been charged with banking irregularities. One regulator, William Black, who testified last week, told the committee that pressure from Ms. Jordan contributed to the delay in enforcing tighter supervision of Lincoln Savings and Loan. Ms. Jordan's testimony pointed up the central role of James Grogan, Lincoln's chief lobbyist, in requesting Ms. Jordan to make telephone calls to the thrift regulators. Grogan will testify before a closed session of the Ethics Committee on Wednesday. http://www.c-spanvideo.org/program/15314-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/15314-1 Wed, 23 May 1990 00:00:00 GMT http://www.c-spanvideo.org/program/9907-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/9907-1 Wed, 23 May 1990 00:00:00 GMT http://www.c-spanvideo.org/program/10010-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/10010-1 Wed, 23 May 1990 00:00:00 GMT Mr. Black, a senior thrift regulator, testified that pressure from an aide of Senator Alan Cranston caused enforcement delays that will ultimately mean larger losses for taxpayers. Mr. Black described the April 2, 1987 meeting with Edwin Gray and the "Keating Five" senators, saying that Charles Keating, owner of Lincoln Savings and Loan, had "set up the meeting to be intimidating." http://www.c-spanvideo.org/program/15240-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/15240-1 Wed, 23 May 1990 00:00:00 GMT Members of the Gernerl Oversight and Investigations Panel convened to look at the relationship of Arizona Governor Fife Symington with the Southwest Savings and Loan Association, and the pursuit of liability suits against insiders of failed banks and savings and loan associations by federal regulators. Governor Symington, elected last year, is among 12 former officers and directors of Southwest Savings and Loan Association who are being sued for $140 million by the Resolution Trust Corporation. The RTC has accused the governor of breaching his duty as a Southwest director by putting his own business interests ahead of the Savings and Loan's. http://www.c-spanvideo.org/program/24555-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/24555-1 Wed, 23 May 1990 00:00:00 GMT Gilbert Gaul talked about the United States Department of Agriculture (U.S.D.A.)'s loan program. The loans can either be direct in that the federal government gives out the money or guaranteed loans in that the federal government backs the loans made by private banks to businesses. He talked about the effect of farmers and businesses defaulting on the loans. He also spoke about the process a borrower went through to get a loan. He answered questions from callers. http://www.c-spanvideo.org/program/202406-3 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/202406-3 Wed, 23 May 1990 00:00:00 GMT http://www.c-spanvideo.org/program/10975-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/10975-1 Wed, 23 May 1990 00:00:00 GMT Mr. Koch's testimony focused mainly on the role of Sen. DeConcini during the Savings and Loan scandal. He also testified about the association of Senator Riegle to the scandal. Mr. Koch's main objective was to differentiate the actions of his employer from those of Sen. DeConcini, and also he sought to show that Senator Riegle had played an important part in setting up the meeting with Federal Home Loan Bank Board Chariman Edwin J. Gray. http://www.c-spanvideo.org/program/15179-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/15179-1 Wed, 23 May 1990 00:00:00 GMT Members of the Senate ethics committee spoke to reporters on the results of their investigation into the ethics of five senators involved with the Lincoln Savings and Loan "Keating 5" scandal. Five senators, Alan Cranston (D-CA), John Glenn (D-OH), Dennis DeConcini (D-AZ), John McCain (R-AZ), and Donald Riegle (D-MI), were charged with accepting campaign contributions from Charles Keating, head of the Lincoln Savings and Loan, in exchange for deterring federal regulators from investigating the financial dealings of the savings and loan. The committee recommended that the Senate further investigate the actions of Senator Alan Cranston, and reprimanded the other four senators for their questionable involvement in the "Keating 5" affair. They also called for the Senate to discuss serious campaign reform to avoid similar scandals in the future. http://www.c-spanvideo.org/program/16812-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/16812-1 Wed, 23 May 1990 00:00:00 GMT http://www.c-spanvideo.org/program/11073-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/11073-1 Wed, 23 May 1990 00:00:00 GMT Mr. Patriarca testified that Senator DeConcini had negotiated with him for special treatment of the Lincoln Savings and Loan Association matter during the April 9 meeting. Mr. Patriarca continued by describing the appearances of each of the senators at the meeting, and focused much of his testimony on the change in the senators' attitudes as they learned that Lincoln Savings' actions were being referred to the Justice Department for criminal investigation. http://www.c-spanvideo.org/program/15176-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/15176-1 Wed, 23 May 1990 00:00:00 GMT http://www.c-spanvideo.org/program/10973-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/10973-1 Wed, 23 May 1990 00:00:00 GMT The guests talked about the practice of "payday loans," in which consumers are offered short-term loans which have the potential for high interest and fees. The Center for Responsible Lending describes the loans as "predatory" in nature. The Community Financial Services Association says payday loans are used as a tool to meet cashflow shortfalls between paydays. The guests also responded to telephone calls and electronic mail. http://www.c-spanvideo.org/program/196834-5 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/196834-5 Wed, 23 May 1990 00:00:00 GMT The House Budget Committee's Fiscal Task Force conducted a hearing on savings and loan whistleblowers. The task force heard testimony concerning allegations that some whistleblowers have been silenced by federal regulators. Two former savings and loan regulators testified that they were dismissed from their jobs after bringing attention to abuse within the government's thrift system. http://www.c-spanvideo.org/program/14709-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/14709-1 Wed, 23 May 1990 00:00:00 GMT Mr. Van Raab, a Customs Service commissioner during the Reagan administration, testified that any contacts Sen. DeConcini had with customs officials was always firm but fair. He told the committee that it was common for lawmakers to intervene in federal agencies. Statements supporting Sen. DeConcini were read into the record from Senators Strom Thurmond (R-SC), Sen. Ernest Hollings (D-SC), Sen. Paul Simon (D-IL), and former Sen. Robert B. Morgan (D-NC). Mr. Mullen testified about the help he received through Sen. DeConcini's constituent services. http://www.c-spanvideo.org/program/15303-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/15303-1 Wed, 23 May 1990 00:00:00 GMT Senator Alan Cranston was excused from testifying before the Senate Ethics committee on the grounds that his treatment for prostate cancer left him too ill to undergo the stress of public questioning. The committee finished its questioning of Senator Donald Riegle, whose testimony was characterized by the panel's vice-chairman, Warren Rudman, as "remarkably inconsistent." Following the hearing, Senator Trent Lott spoke to reporters, and criticized the committee for failure to direct the hearing in a timely fashion. Mr. Lott, a member of the Ethics committee, said that he would be surprised if the committee did not recommend to take up the conduct of at least one of the senators before the full Senate. http://www.c-spanvideo.org/program/15612-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/15612-1 Wed, 23 May 1990 00:00:00 GMT http://www.c-spanvideo.org/program/11071-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/11071-1 Wed, 23 May 1990 00:00:00 GMT The committee examined the circumstances that led to the closing of the Silverado Banking, Savings & Loan Association of Denver, Colorado. The panel investigated how managers, directors, outside auditors and federal regulators filled their roles in protecting the institution against failure. Witnesses included several current and former officials from the Office of Thrift Supervision. http://www.c-spanvideo.org/program/12367-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/12367-1 Wed, 23 May 1990 00:00:00 GMT Direct questioning of Mr. Grogan concerning his role in the Lincoln Savings and Loan scandal continued from the morning session. Mr. Grogan was Charles Keating's "middleman" in giving money to the campaigns of the senators under investigation, and he also participated in enlisting the help of the senators in averting federal regulators in the investigation of Lincoln Savings and Loan, the banking institution headed by Mr. Keating. http://www.c-spanvideo.org/program/15365-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/15365-1 Wed, 23 May 1990 00:00:00 GMT The committee heard testimony from Senator Dennis DeConcini, one of the five senators under investigation from the Senate Ethics committee for allegedly improperly prevented federal regulators from investigating the financial affairs of Lincoln Savings and Loan, a banking institution headed by Mr. Charles Keating, a contributor to the campaign treasuries of the five senators. Mr. DeConcini adamantly stated in testimony that he would not abide by the appearance standard, a standard by which a senator's actions would be judged improper by a reasonable, well-informed person. Mr. DeConcini said that he would not be "terrorized" by this standard, and would continue to work for special interests when the situation called for it. He denied making a deal with Mr. Keating to prevent Federal regulators from investigating Lincoln Savings and Loan. http://www.c-spanvideo.org/program/15630-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/15630-1 Wed, 23 May 1990 00:00:00 GMT Mr. Gray continued his testimony in the afternoon. http://www.c-spanvideo.org/program/15249-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/15249-1 Wed, 23 May 1990 00:00:00 GMT Mr. Black continued his testimony during the afternoon. http://www.c-spanvideo.org/program/15241-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/15241-1 Wed, 23 May 1990 00:00:00 GMT Opening statements from members of the committee were focused largely on Senators Cranston and DeConcini for their involvement with Charles H. Keating, Jr. and his failed Lincoln Savings and Loan Association. Senator DeConcini, in his opening statement, expressed the need for the accused senators to defend themselves and declared that he did not think that anyone had contended that the hearings would be a fair process. http://www.c-spanvideo.org/program/15012-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/15012-1 Wed, 23 May 1990 00:00:00 GMT Treasury Secretary Henry Paulson talked about the subprime mortgage crisis. He talked about the governmental interests in the development of a market-based solution. He said that mortgage industry representatives supported the proposed federal response. Housing and Urban Development Secretary Alphonso Jackson talked about the abilities of homeowners to refinance their mortgages under the federal policy. Industry representatives talked about the effect of the policy on their business practices. Panelists answered questions from reporters. http://www.c-spanvideo.org/program/202807-1 info@c-spanarchives.org (National Cable Satellite Corporation) http://www.c-spanvideo.org/program/202807-1 Wed, 23 May 1990 00:00:00 GMT