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Economy: Savings and Loan Scandal / Investors #130169

ABC Evening News for Wednesday, Aug 01, 1990
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(Studio: Peter Jennings) Report introduced.

(Washington: Allan Dodds Frank) Review given of government's program to sell off real estate of failing savings and loan institutions; details given of investments by Ford Motor Company and men like financier Ronald Perelman, Texas billionaire Robert Bass and former Treasury Secretary William Simon in which they bought up S&Ls in turn for billions in tax breaks. [Yesterday, former Federal Home Loan Bank Board chairman M. Danny WALL - explains these transactions.] [Resolution Trust Corp. chairman L. William SEIDMAN - cites costs.] [Senator Don RIEGLE - says there was no risk to investors.]

Reporter(s):
Frank, Allan Dodds;
Jennings, Peter
Duration:
00:02:10

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