Gary thinks we need a Resolution Trust Corp (RTC) type solution for the housing market.
FORBES: Shilling Thinks Housing Will Fall Another 20%, But Many Homeowners Will Get Bailed Out
Wiederhorn got his start purchasing foreclosed assets from Resolution Trust Corp. in the early 1990s.
He helped pioneer lucrative asset-backed securitizations, using his purchases of foreclosed assets from the Resolution Trust Corp.
The other main reason for America's success was the creation of the Resolution Trust Corporation, also in 1989.
China has adopted the model of America's Resolution Trust Corporation, which took on the loans of bankrupt savings-and-loan companies.
The Resolution Trust Corp. came to life in 1989 after the failure of the Federal Savings and Loan Insurance Corp.
Japan still has numerous structural problems, most glaringly the inability of the government to set up a Resolution Trust Corp.
All were patterned after the Resolution Trust Co. set up by the U.S. in the 1980s savings and loans crisis.
Resolution Trust's job was to take over failed institutions' finances, pay off depositors immediately and sell the assets as quickly as possible.
Following the savings and loan crisis, the Resolution Trust Corp. conducted forensic audits and barred firms found to have misbehaved from further work.
In that auction, the government's Asset Management Company similar to the Resolution Trust Corporation that cleaned up America's savings-and-loan mess will be allowed to bid.
He also called for creation of a new agency modeled after the Resolution Trust Corp. that handled the fallout from the savings and loan crisis.
WSJ: McCain Says Cox Should Be Fired As SEC Chief Amid 'Casino' Markets
In past iterations of this idea, like 1989's Resolution Trust Corp.
In past bailouts, including the Resolution Trust Corp. formed in 1989 to help resolve the savings-and-loan crisis, the ultimate taxpayer cost was magnitudes larger than originally projected.
On April 1st Mr Nakabo becomes head of Japan's version of the Resolution Trust Corporation, the company set up to recover loans made by America's Savings-and-Loans institutions.
One option is to set up a version of America's Resolution Trust Corporation, which inherited and sold off the assets of failed savings and loan associations in the early 1990s.
Mr. Holtz-Eakin also said that a Resolution Trust Corp.
WSJ: McCain Says Cox Should Be Fired As SEC Chief Amid 'Casino' Markets
America's savings-and-loan fiasco of the 1980s was, after much dithering, eventually contained in less than three years by the government's Resolution Trust Corporation, which was charged with disposing of bust institutions' assets.
For advice, it sought out former regulators from the Resolution Trust Corporation, charged in the 1980s with cleaning up America's savings-and-loan (thrift) crisis, and from Securitas, which handled Sweden's banking crisis in the early 1990s.
In my opinion, it was a major contributing cause to the 1987 stock market crash and related real estate market crash by 1989, which led to government bailout 1.0 with the federal Resolution Trust Corp.
Pressure is likely to grow for the creation of a more formal mechanism for handling the sick, akin to the Resolution Trust Corporation that took on bad assets from the savings and loan crisis of the 1980s.
Given the sorry state of the financial markets, politicians are clamoring for the recreation of a throwback to the 1980s savings and loan crisis: an entity like the Resolution Trust Corp. to help relieve banks of their toxic assets.
Mr. Obama would make more progress against recession if he steered the TARP back to the purpose that Paul Volcker and Eugene Ludwig first proposed on these pages -- as a resolution agency on the model of the Resolution Trust Corp. of the 1990s.
Euro-zone leaders should make it their New Year's resolution to earn back the trust of electorates and peers.
Congressional leaders, responding to the airlines, are demanding that airlines either hold the money in trust for the government pending a budget resolution or pass along the savings to travelers.
FORBES: Congress Tells Airlines To Stop Pocketing Extra Fares
She reiterated the trust's position that the agreement with Mr Walker only "contained standard confidentiality terms relating to the resolution of the employment tribunal dispute".
应用推荐