Entries tagged "RTC"
At the Securities Industry and Financial Markets Association's Summit on the Troubled Asset Relief Program Monday afternoon, L. William Seidman, former chairman of the FDIC and the Resolution Trust Corp., talked about creating a market for assets that no one wants to buy. "Creating a market is painful," Seidman said, referring to the RTC program he ran that was created to deal with the S&L crisis. ...
L. William Seidman, former chairman of the FDIC and the Resolution Trust Corp., was the lunch speaker at the Securities Industry and Financial Markets Association's Summit on the Troubled Asset Relief Program Monday afternoon. As chair of the FDIC during the last financial crisis, Seidman started off by reassuring the audience that the crisis would pass, but he quickly focused on the seriousness of the situation. ...
It seems to be obvious that the lesson from the afternoon rally in the stock markets is this: Politics matter, Washington matters, and sensible legislation in the midst of a crisis matters. How hard is this? The Resolution Trust model has been out there since the S&L crisis; it's also been in the papers over the last few days, taking a little luster from CNBC's "scoop." But it's hardly a new, or wild-eyed, idea (hell, it was started under Bush Sr.), though it requires some capital. The mortgage crisis has been grinding folks down, both at the homeowner level and...
