Office of Thrift Supervision

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  • Centrust Bank Essay

    1243 Words  | 5 Pages

    Thrifts suffered more than mutual funds, because they were clogged with battered Drexel-underwritten issues. The episode marks the first time a financial institution has been brought down primarily because of its involvement in the junk-bond market. CenTrust reported a $119.5 million loss for its fiscal year ended Sept. 30, 1989, after writing down a ton of junk and reserving for losses. Under thrift rules, CenTrust needs about $130 million of equity

  • The Collapse Of Washington Mutual Essay

    1321 Words  | 6 Pages

    J.P. Morgan planned to close branches of Washington Mutual that J.P. Morgan was already settled and successful in. Sidel, Robin, David Enrich, and Dan Fitzpatrick. "WaMu Is Seized, Sold Off to J.P. Morgan, In Largest Failure in U.S. Banking History." WSJ. Wsj.com, 26 Sept. 2008, 25 Nov. 2016. Sidel, Enrich, and Fitzpatrick discuss what lead to the collapse of Washington Mutual back in 2008. Leading up to the collapse of Washington Mutual, the downfall of the housing market was impacting the mortgage

  • The American Financial Industry

    1672 Words  | 7 Pages

    industry is a very active industry in the world. Although the history for American financial industry is shorter than other old capitalist counties, such as English, France , Netherland, due to the industry ‘s potentiality, creativity and successful supervision comes from government ,the American financial industry has been growing fast since it was established hundreds year ago. Overall ,at present ,from the aspects of industry scale and structure ,monetary policy and the freedom of transaction ,those

  • The American Financial Industry

    1672 Words  | 7 Pages

    industry is a very active industry in the world. Although the history for American financial industry is shorter than other old capitalist counties, such as English, France , Netherland, due to the industry ‘s potentiality, creativity and successful supervision comes from government ,the American financial industry has been growing fast since it was established hundreds year ago. Overall ,at present ,from the aspects of industry scale and structure ,monetary policy and the freedom of transaction ,those

  • Long Island Saving Bank Case Summary

    552 Words  | 3 Pages

    The article “The Strange Case of Long Island Savings Bank - Or How a Contract Self-Destructed into Voidness“ briefly discusses the court case, which involves James J. Conway, Jr., chairman and CEO of Long Island Saving Bank. The article involves everything about the case such as the misdeeds of Conway for his own benefits. Being a CEO and chairman, Conway was also a partner in a law firm. The firm was controlled by him and his daughter. In the firm he also hired his daughter-in-law, who was also

  • The False Claims Act

    769 Words  | 3 Pages

    On October 24, 2012 the Unites States of America filed a lawsuit against the Bank of America Corporation for selling toxic mortgages to Fanny Mae and Freddy Mac which cost the taxpayers more than $1 billion dollars. The lawsuit sought penalties under two laws; the False Claims Act, which is normally used to target fraud against the government, and the 1989 FIRREA Law. FIRREA does not usually hold up in court, but the government is once again relying on it because of the financial crisis as a possibility

  • Trade Securities Outside Of The Formal Exchange Systems

    1594 Words  | 7 Pages

    Over-the-counter, or OTC, markets are used to trade securities outside of the formal exchange systems that sell different types of derivatives and unlisted stocks. Smaller companies often have their stocks traded on OTC markets because they are not able to meet the extensive requirements of the formal exchanges. These markets are not subject to the same strict regulations as formal stock exchanges and the companies that use them are not required to be as transparent as larger companies trading on

  • Outsourcing : Is Outsourcing The Case Of Banks?

    809 Words  | 4 Pages

    be marked as a bank 's evaluate of a third satisfaction (either a born with entity within a corporate everyone or an entity that is exterior to the corporate group) to dig activities on a continuing reality that would normally be undertaken by the thrift itself, soon or in the future. ‘Continuing basis would reply agreements for a restrictive period. In keeping by generally told of this international that a way, it is observed, that banks in India aside from have been chiefly outsourcing distinctive

  • Why Investment Decisions Have Been Affected By Credit Quality Problems Over The Last 30 Years

    920 Words  | 4 Pages

    their activities. Supervisory oversight of the S&L industry was both decentralised and split from the examination area, which meant that many insolvent thrifts were not identified.* Due to the specific methods of practice in their area of specialisation, their financial health worsen over time. Lack of supervision also allowed some of the thrifts to re-invest in speculative ventures16. Nevertheless, regulatory authorities decided to lower capital standards giving even more power to S&Ls to make new

  • The Eu And The U.s.

    1501 Words  | 7 Pages

    The EU and the U.S. are currently amidst a fundamental, institutional and a regulatory in response to the financial crisis. This process is primarily driven by domestic agendas yet a general overlook on each region’s approach towards recovery with examples can create a formidable argument. As the citizens endured the hit, government bodies reacted immediately proposing short term and long term plans in order to lead their respective regions from the crisis. Europe’s debt crisis was initially triggered

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