Office of Thrift Supervision

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

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

When a bank fails their chartering officials, either state regulators or the Office of Comptroller Currency often close and shut down the institution in order for the FDIC to come in and resolve the problems that have arose. The FDIC has many options that can resolve institution failures, but the most prominent one that is used is

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

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 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

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

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

government departments are created The Financial stability Oversight Council and the Office of Financial Research. The authority of the Board of Governors of the Federal Reserve System is it expanded also to allow them to supervise nonbank financial companies and certain bank holding companies that could affect the health of the country’s economy. These two departments are interrelated very closely.

Due to the nature of hedge funds of carrying high risk and large assets, these changes in supervision will allow the FDIC to hold advisers to more severe reporting requirements forcing them to provide the Securities and Exchange Committee and the Federal Deposit Insurance Corporation with the information necessary to evaluate the private funds’