Restructuring of Resolution Trust Corporation
1991-04-09T09:44:00-04:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvMzFhXC8xOTkxMDQwOTEyNDQxMzAwMl9oZC5qcGciLCJlZGl0cyI6eyJyZXNpemUiOnsiZml0IjoiY292ZXIiLCJoZWlnaHQiOjUwNn19fQ==After remarks from members of the committee on the death of committee member Sen. John Heinz (R-PA), who died in a plane crash on April 4, the Senate Banking Committee heard testimony on restructuring proposals for the Resolution Trust Corporation. The RTC was organized by Congress to supervise the dissolution and sale of the holdings of failed savings and loan institutions. Under the current structure of the RTC, an oversight board of government officials and a board of directors both hold power over the actions of the corporation, which complicates the ability of the RTC to get anything done. Its financial statements through December 1989 were finished in April of 1991, indicating the extent of the bureaucracy of the RTC. Gov. Sundlun, Sen. Pell and Sen. Chafee discussed the current situation of the savings and loan industry in Rhode Island, of which nearly one-fifth of the population currently has money tied up in the freeze of Rhode Island’s savings and loans' assets by the RTC. Th
After remarks from members of the committee on the death of committee member Sen. John Heinz (R-PA), who died in a plane crash on April 4, t… read more
After remarks from members of the committee on the death of committee member Sen. John Heinz (R-PA), who died in a plane crash on April 4, the Senate Banking Committee heard testimony on restructuring proposals for the Resolution Trust Corporation. The RTC was organized by Congress to supervise the dissolution and sale of the holdings of failed savings and loan institutions. Under the current structure of the RTC, an oversight board of government officials and a board of directors both hold power over the actions of the corporation, which complicates the ability of the RTC to get anything done. Its financial statements through December 1989 were finished in April of 1991, indicating the extent of the bureaucracy of the RTC. Gov. Sundlun, Sen. Pell and Sen. Chafee discussed the current situation of the savings and loan industry in Rhode Island, of which nearly one-fifth of the population currently has money tied up in the freeze of Rhode Island’s savings and loans' assets by the RTC. Th close
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- David Braun Director Texas Nature Conservancy
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- Chris Lewis Co-Chair Financial Democracy Campaign
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- Bruce G. Sundlun Governor [D] Rhode Island
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