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Gibraltar Savings Association
Gibraltar Savings Association was a Houston, Texas based savings and loan. Its failure in 1988 and resolution was one of the most expensive in the savings and loan crisis at an estimated cost of $2.875 billion. Background The thrift was founded as Gibraltar Savings and Building Association in 1921. It was formerly owned by Imperial Corporation of America in San Diego, but was spun off to shareholders in 1981. In 1984, Gibraltar Savings was acquired by First Texas Financial Corporation. FTFC, which had acquired First Texas Savings Association in Dallas in 1982, was controlled by nursing home developer J. Livingston Kosberg. An investor in FTFC was lawyer and political power broker Robert S. Strauss, who owned 10% of the stock. His son, real estate developer Richard Strauss, joined the board and was active in running the thrift. Failure Gibraltar Savings failed in December 1988, at which time it was the largest thrift in Texas. Under the Federal Home Loan Bank Board and Feder ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Houston
Houston (; ) is the most populous city in Texas, the most populous city in the Southern United States, the fourth-most populous city in the United States, and the sixth-most populous city in North America, with a population of 2,304,580 in 2020. Located in Southeast Texas near Galveston Bay and the Gulf of Mexico, it is the seat and largest city of Harris County and the principal city of the Greater Houston metropolitan area, which is the fifth-most populous metropolitan statistical area in the United States and the second-most populous in Texas after Dallas–Fort Worth. Houston is the southeast anchor of the greater megaregion known as the Texas Triangle. Comprising a land area of , Houston is the ninth-most expansive city in the United States (including consolidated city-counties). It is the largest city in the United States by total area whose government is not consolidated with a county, parish, or borough. Though primarily in Harris County, small portions of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
MacAndrews & Forbes
MacAndrews & Forbes Incorporated is an American diversified holding company wholly owned by billionaire investor Ronald Perelman. Current investments include leading participants across a wide range of industries, from cosmetics and entertainment to biotechnology and military equipment. The principal interests of MacAndrews & Forbes include AM General, Harland Clarke, Merisant, RetailMeNot, Revlon, Scantron, Scientific Games Corporation, SIGA Technologies, Valassis and vTv Therapeutics. History Group MacAndrews & Forbes & Co. was founded in 1850 by Edward MacAndrews and William Forbes, a distributor of licorice extract and chocolate. In 1978, Perelman purchased a 40% stake in Cohen-Hatfield Jewelers, and in 1980, Perelman, through Cohen-Hatfield Jewelers, bought MacAndrews & Forbes & Co. Through the purchase, Cohen-Hatfield Jewelers was merged into what became MacAndrews & Forbes Group Inc. Holdings In 1983, Perelman formed MacAndrews & Forbes Holdings, Inc. Perelman started ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Failures In The United States
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Citigroup
Citigroup Inc. or Citi (Style (visual arts), stylized as citi) is an American multinational investment banking, investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking giant #Citicorp, Citicorp and financial conglomerate Travelers Group in 1998; Travelers was subsequently spun off from the company in 2002. Citigroup owns Citicorp, the holding company for Citibank, as well as several international subsidiaries. Citigroup is Delaware General Corporation Law, incorporated in Delaware. Citigroup is the List of largest banks in the United States, third largest banking institution in the United States; alongside JPMorgan Chase, Bank of America, and Wells Fargo, it is one of the Big Four (banking)#United States, Big Four banking institutions of the United States. It is considered a Systemically important financial institution, systemically important bank by the Financial Stability Board and is commonly cited as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California Federal Bank
California Federal Bank, known as CalFed, was a savings bank headquartered in Los Angeles, California, at 5670 Wilshire Boulevard. It operated 352 branches, most of which were in California. In 2002, the bank was acquired by Citigroup. History The bank was founded in 1945 originally as California Federal Savings & Loan Association. In June 1989, California Federal Savings & Loan Association was renamed California Federal Bank. In January 1993, the bank's stockholders voted to eliminate the bank's then holding company parent, CalFed Inc. (NYSE: CAL), as a means to raise more capital. In 1994, the bank acquired Cornerstone Savings & Loan after it was shut down by regulators as a result of bank failure. In August 1995, the bank reversed its 1993 decision to eliminate its holding company and formed Cal Fed Bancorp, Inc. (NYSE: CAL) as its new parent. In 1997, First Nationwide Holdings Inc., the parent company of First Nationwide Bank, acquired the bank's then parent, Cal Fed Banc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of America
The Bank of America Corporation (often abbreviated BofA or BoA) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina. The bank was founded in San Francisco. It is the second-largest banking institution in the United States, after JPMorgan Chase, and the second largest bank in the world by market capitalization. Bank of America is one of the Big Four banking institutions of the United States. It serves approximately 10.73% of all American bank deposits, in direct competition with JPMorgan Chase, Citigroup, and Wells Fargo. Its primary financial services revolve around commercial banking, wealth management, and investment banking. One branch of its history stretches back to the U.S.-based Bank of Italy, founded by Amadeo Pietro Giannini in 1904, which provided various banking options to Italian immigrants who faced service discrimination. Originally headquartered ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gerald J
Gerald is a male Germanic given name meaning "rule of the spear" from the prefix ''ger-'' ("spear") and suffix ''-wald'' ("rule"). Variants include the English given name Jerrold, the feminine nickname Jeri and the Welsh language Gerallt and Irish language Gearalt. Gerald is less common as a surname. The name is also found in French as Gérald. Geraldine is the feminine equivalent. Given name People with the name Gerald include: Politicians * Gerald Boland, Ireland's longest-serving Minister for Justice * Gerald Ford, 38th President of the United States * Gerald Gardiner, Baron Gardiner, Lord Chancellor from 1964 to 1970 * Gerald Häfner, German MEP * Gerald Klug, Austrian politician * Gerald Lascelles (other), several people * Gerald Nabarro, British Conservative politician * Gerald S. McGowan, US Ambassador to Portugal * Gerald Wellesley, 7th Duke of Wellington, British diplomat, soldier, and architect Sports * Gerald Asamoah, Ghanaian-born German football player * G ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ronald Perelman
Ronald Owen Perelman (; born January 1, 1943) is an American banker, businessman and investor. MacAndrews & Forbes Incorporated, his company, has invested in companies with interests in groceries, cigars, licorice, makeup, cars, photography, television, camping supplies, security, gaming, jewelry, banks, and comic book publishing. Perelman holds significant shares in companies such as Deluxe Entertainment, Revlon, SIGA Technologies, RetailMeNot, Merisant, Scantron, Scientific Games Corporation, Valassis, vTv Therapeutics and Harland Clarke. He previously owned a majority of shares in AM General, but in 2020 sold the majority of his shares in AM General along with significant works of art, in light of the impact of the economy on the high debt burdens many of his companies have from leveraged buyouts. In early 2020, Revlon, acquired by Perelman in the 1980s, undertook a debt deal. Previously worth $19.8 billion in 2018, Perelman is, as of September 2020, worth $4.3 billion. Ear ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Killeen, Texas
Killeen is a city in Bell County, Texas, United States. According to the 2020 census, its population was 153,095, making it the 19th-most populous city in Texas and the largest of the three principal cities of Bell County. It is the principal city of the Killeen–Temple–Fort Hood Metropolitan Statistical Area. Killeen is north of Austin, southwest of Dallas, and northeast of San Antonio. Killeen is directly adjacent to the main cantonment of Fort Hood. Its economy depends on the activities of the post, and the soldiers and their families stationed there. It is known as a military "boom town" because of its rapid growth and high influx of soldiers. History In 1881, the Gulf, Colorado and Santa Fe Railway extended its tracks through central Texas, buying a few miles southwest of a small farming community known as Palo Alto, which had existed since about 1872. The railroad platted a 70-block town on its land and named it after Frank P. Killeen, the assistant general mana ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Texas
Texas (, ; Spanish language, Spanish: ''Texas'', ''Tejas'') is a state in the South Central United States, South Central region of the United States. At 268,596 square miles (695,662 km2), and with more than 29.1 million residents in 2020, it is the second-largest U.S. state by both List of U.S. states and territories by area, area (after Alaska) and List of U.S. states and territories by population, population (after California). Texas shares borders with the states of Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the west, and the Mexico, Mexican States of Mexico, states of Chihuahua (state), Chihuahua, Coahuila, Nuevo León, and Tamaulipas to the south and southwest; and has a coastline with the Gulf of Mexico to the southeast. Houston is the List of cities in Texas by population, most populous city in Texas and the List of United States cities by population, fourth-largest in the U.S., while San Antonio is the second most pop ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Savings And Loan Insurance Corporation
The Federal Savings and Loan Insurance Corporation (FSLIC) was an institution that administered deposit insurance for savings and loan institutions in the United States. History Establishment The FSLIC was established by the National Housing Act of 1934, which was signed into law by President Franklin D. Roosevelt on June 27, 1934. Upon the creation of the FSLIC, it was assigned a capital stock of $100,000,000. All federal savings and loan associations were required to apply for insurance through the FSLIC; other building and loan associations whose capital was not impaired were also allowed to apply. The FSLIC was given certain regulatory powers over insured institutions, requiring each institution to accumulate reserves over several years. FSLIC assessed an annual insurance premium, which was calculated as 0.25% of the total amount of all accounts of insured shareholders or members, plus any creditor obligations. The FSLIC would suspend insurance premiums whenever the FSLIC's res ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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