Did RTC shake-up derail cases?
Article Abstract:
Some politicians feel that some Savings and Loan Crisis cases were lost due to Resolution Trust Corp (RTC) failure to timely file cases against failed financial institutions and that this lapse was brought about by a Bush Administration reorganization of the RTC. The RTC denies this, but the matter is important since RTC failure to file in a timely manner is a defense often used by officers of failed thrifts. The Senate has voted to extend the statute of limitations in savings and loan liability cases, but the Clinton administration opposes such a move.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1993
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Bank regulators await direction from Clinton team
Article Abstract:
The banking regulatory agencies are unsure whether the root of the savings and loan crisis was too much or not enough government regulation and eager to see what direction President Clinton will take in their area. His one bank agency nominee so far is Eugene A. Ludwig for comptroller of the currency. Observers are of two minds about the Resolution Trust Corp (RTC), some thinking it should be dismantled and some that it should press ahead with litigation to recover as much money from former directors of the failed savings and loans as possible.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1993
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RTC lawyers say politics rule; officials thwart suits?
Article Abstract:
Resolution Trust Corp (RTC) staffers have told the Senate Banking Committee that political pressure has lowered morale at the agency and subverted proceedings against savings and loan criminals. The White-House-appointed general counsel to the RTC, Gerald L. Jacobs, resigned in the wake of these hearings after being accused of favoring savings and loan directors. The professional liability team also testified that they felt hostility and some subversion of their efforts from agency lawyers engaged in selling assets.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1992
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