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Economy: Savings and Loan Scandal / Chase Manhattan Bank #334741

CBS Evening News for Friday, Sep 21, 1990
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(Studio: Dan Rather) Report introduced.

(Washington: Terence Smith) FDIC (Federal Deposit Insurance Corporation) reported suing president's son Neil Bush and other directors of collapsed Silverado savings and loan; charges against Bush, Bill Walters and Kenneth Good outlined on screen. [On July 6, BUSH - comments.] FDIC (Federal Deposit Insurance Corporation) suit quoted; government hearing next week seeking to bar Bush from serving as a thrift director mentioned.

(Studio: Dan Rather) California court judge reported refusing to lower bail for Charles Keating, indicted in collapse of Lincoln Savings and Loan. Report introduced.

(Studio: Ray Brady) Chase Manhattan Bank holding company reported posting huge losses, laying off workers and cutting dividends; defaulted development loans, like those to Donald Trump, noted one reason for losses. ["National Mortgage News" Stan STRACHAN - wonders about safety of entire industry; talks about effect on sound real estate projects.]

Brady, Ray;
Rather, Dan;
Smith, Terence

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