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Posts Tagged ‘Financing Practices’

FREEDOMFIGHTERS FOR AMERICA - THIS ORGANIZATIONEXPOSING ...2 – CRATERAIR

Coffee, tea, or bankruptcy?

—Forbes, September 26, 1994

In the case of the Caterair buyout, Carlyle made up for the money they lost— like many of the company’s early deals, Caterair was horrendously unsuccessful—by hiring the man that would eventually be the leader of the most powerful country in the world: George W. Bush. Caterair may have been a complete failure by ordinary business standards, but the relationships cultivated therein were more than worth the stinging financial losses.

In Washington, it’s not what you know, but who you know, and knowing George W. Bush, then son of the nation’s president, was a valuable connection indeed. But getting an in with the president’s son wasn’t easy, and it all started when the man known simply as “Mr. Marriott” got a hankering to sell one of his businesses. (more…)

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1 – THE POLITICIAN, THE BUSINESSMAN, AND THE UNLUCKY ESKIMOS

It was a great scam.
—Stephen Norris, co-founder Carlyle Group, May 20, 2002

Stephen Norris is getting excited now. Even today, recalling the events that led to the formation of the Carlyle Group, the company that would eventually come to represent Norris’ legacy, gives the 53-year-old Washington dealmaker a thrill. Though they didn’t know it at the time, co-founders Norris and David Rubenstein, a young staffer from the Carter administration, were embarking on the ride of a lifetime.

With a nose for the big deal, the cocksure Norris is, by his own admission, a difficult man to get along with. (more…)

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The Great Eskimo Tax ScamThe Great Eskimo Tax Scam

by Robert Lettin, March 30, 2016

[H]ere’s a fun story from the Wayback Machine to remind you it’s never the wrong time to pay attention to taxes.

Back in 1971, President Nixon signed the Alaska Native Claims Settlement Act. The law was intended to settle a long history of land disputes dating back to before Alaskan statehood. It distributed up to 104.5 million acres of land to the native tribes, paid out $962.5 million… and created 13 “Alaska native regional corporations” to manage those assets. But timing, as they say, is everything. Fishing, timber, and oil industries collapsed, and nearly all of the new corporations were left with losses. (more…)

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owl cookie jar www.ishoppedtoday.com/2012/08/19/cool-cookie-jars/

Expert Anti-Money Laundering
Anti-Money Laundering (AML) Certification with ING.
~ ING website 2017

Dutch Prosecutors Probe ING Bank for Money Laundering, Corruption

Published: 22 March 2017

ING Bank confirmed on Wednesday it is being investigated by Dutch prosecutors for money laundering and corruption. Local media say the probe is related to a bribery case in Uzbekistan.

A bank spokesman said the investigation could result in “significant” fines and penalties, but didn’t confirm a report from Dutch newspaper Het Financieele Dagblad that it is linked to corruption accusations against the daughter of former Uzbek president involving hundreds of millions of dollars.

“Given that the matter is under investigation we cannot comment further other than that we cooperate with the investigations,” ING Bank spokesman Raymond Vermeulen said in an e-mail to OCCRP. (more…)

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Buying Failed BanksList of bank failures in the United States

The 2008 financial crisis led to the failure of a large number of banks in the United States. The Federal Deposit Insurance Corporation (FDIC) closed 465 failed banks from 2008 to 2012. In contrast, in the five years prior to 2008, only 10 banks failed, of which 3 in 2007.

A bank failure is the closing of a bank by a federal or state banking regulatory agency. The Federal Deposit Insurance Corporation (FDIC) is named as Receiver for a bank’s assets when its capital levels are too low, or it cannot meet obligations the next day. The FDIC insures up to $250,000 per depositor, per insured bank.

2010 (more…)

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List of bank failures in the United States

The 2008 financial crisis led to the failure of a large number of banks in the United States. The Federal Deposit Insurance Corporation (FDIC) closed 465 failed banks from 2008 to 2012. In contrast, in the five years prior to 2008, only 10 banks failed, of which 3 in 2007.

A bank failure is the closing of a bank by a federal or state banking regulatory agency. The Federal Deposit Insurance Corporation (FDIC) is named as Receiver for a bank’s assets when its capital levels are too low, or it cannot meet obligations the next day. The FDIC insures up to $250,000 per depositor, per insured bank.

2009

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Banks and the Economy: The FDIC Expects Bank Failures to Peak this YearDust Off Your Files: The FDIC Is Back in Town
By Laurence E. Platt et al., August 2008

The recent appointment of the Federal Deposit Insurance Corporation (“FDIC”) as conservator of IndyMac Bank and receiver of the First National Bank of Nevada and First Heritage Bank, N.A. (collectively, “FNBN”) has caused many lawyers to recall from storage their files on the role of the FDIC and the now defunct Resolution Trust Corporation (“RTC”) in the liquidation of thousands of failed banks and thrifts over 15 years ago.

FDIC and RTC were often a source of unmitigated pain to the failed institutions they liquidated and the counterparties to contracts that were in effect at the time [they] failed. At the same time, FDIC and RTC presented unsurpassed opportunities for those with cash to purchase loans and assets from their receiverships [reception].

Those who have servicing or other contracts with IndyMac and FNBN are experiencing (more…)

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Top 7 Biggest Bank Failures - Slideshow | InvestopediaList of bank failures in the United States

The 2008 financial crisis led to the failure of a large number of banks in the United States. The Federal Deposit Insurance Corporation (FDIC) closed 465 failed banks from 2008 to 2012. In contrast, in the five years prior to 2008, only 10 banks failed, of which 3 in 2007.

A bank failure is the closing of a bank by a federal or state banking regulatory agency. The Federal Deposit Insurance Corporation (FDIC) is named as Receiver for a bank’s assets when its capital levels are too low, or it cannot meet obligations the next day. The FDIC insures up to $250,000 per depositor, per insured bank, as a result of the Emergency Economic Stabilization Act of 2008, which raised the limit from $100,000. (more…)

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WAR IRAQ VS KWAITManaging the Crisis: The FDIC and RTC Experience
Chronological Overview: Chapter Fourteen—1991

[The] Bank Insurance Fund (BIF) dropped below zero to a negative $7 billion. On April 30, 1991, the FDIC issued a regulation raising the deposit insurance assessment rate from 19.5 cents to 23 cents per $100 in assessable deposits. That increase in assessment revenue was designed to help offset BIF losses, which had been outpacing revenue since 1984.

Economic/Banking Conditions

While the U.S. was still involved in the Persian Gulf War, the U.S. economy had negative growth in 1991 with Gross Domestic Product down 0.97 percent.14-1 Employment growth also was negative at -2.1 percent. The unemployment rate continued to rise with a substantial increase to 6.8 percent, up from 5.6 percent a year earlier.14-2 The discount rate decreased by more than one and a half points to 5.5 percent, and the 30-year mortgage rate fell to 9.3 percent.14-3 Inflation also was down slightly at 4 percent.14-4 Home sales and housing starts remained steady while the office vacancy rate continued to rise and was at 18.9 percent.14-5 Total real estate loans in the U.S. continued to increase to 26 percent of assets, as did commercial real estate loans, rising to 7.3 percent.

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Clipart - Cobalt Ornate Dharma WheelThe Invisible Government
From Modern History Project “A little learning is a dangerous thing”

5. Business Advisory Council
Aligning business interests and government policy

The Business Advisory Council (1933-61)

Whereas the Foreign Policy Association-World Affairs Center is primarily interested in fostering the foreign policy desired by the CFR, and the Committee for Economic Development is primarily interested in formulating economic and other policies which, through governmental controls, will lead us into total socialism — another, smaller (but, in some ways, more powerful) organization has (or, until mid-1961, had) the primary responsibility of infiltrating government: of selecting men whom the CFR wants in particular jobs, and of formulating, inside the agencies of government, policies which the CFR wants. This small but mighty organization was the Business Advisory Council.

Daniel C. Roper, F. D. Roosevelt’s Secretary of Commerce, formed the Business Advisory Council on June 26, 1933. (more…)

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