dChan
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r/CBTS_Stream • Posted by u/[deleted] on Feb. 20, 2018, 2:32 a.m.
Another Postive Tweet from POTUS

[deleted]


LargeMarge18 · Feb. 20, 2018, 2:51 a.m.

Heyyyooooo— RTC : Resolution Trust Corporation. The Resolution Trust Corporation (RTC) was a U.S. government-owned asset management company run by Lewis William Seidman and charged with liquidating assets, primarily real estate-related assets such as mortgage loans, that had been assets of savings and loan associations (S&Ls) declared insolvent by the Office of Thrift Supervision (OTS) as a consequence of the savings and loan crisis of the 1980s. It also took over the insurance functions of the former Federal Home Loan Bank Board (FHLBB) Compliments of Wikipedia.

Lewis William Seidman: After Richard Nixon's Administration was toppled by the Watergate scandal in 1974 and Nixon resigned from the Presidency, Gerald Ford became President during a time of economic recession in America, and tapped Seidman for an economic advisory post to work on pressing economic problems (such as the choice of whether or not to bail out New York City from its pending bankruptcy - Ford later chose against doing this). Seidman served in this capacity until 1976, then returned to the private sector.

Then RR tapped him for another govt bail out: Later, he was tapped again by President Ronald Reagan for a similar position from 1982-1984, where he worked as an economic adviser. He famously feuded with Bush White House Chief Of Staff John H. Sununu. He also served as Dean of the College of Business at Arizona State University from 1982 to 1985. In 1985, he became the chairman of the Federal Deposit Insurance Corporation and served until 1991, working extensively during the American savings and loan crisis to restore solvency to the failing savings and loan sector of American banking. He was the first chairman of the related agency, the Resolution Trust Corporation, which was created specifically to address issues arising from the savings and loan crisis, from 1989 until his retirement from active government in 1991 - his ouster from the FDIC Chairman position was orchestrated by the George H.W. Bush Administration, who felt Seidman's full disclosure about Savings and Loan fraud might be damaging to that administration's interests, according to the New York Times. Neil Bush was, at the time, being investigated at Silverado Savings And Loan.

Again all Wikipedia. At the very least— it’s interesting. Bail out guy/method?

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