SEC and Corporate Audits: Failure of ESM Government SecuritiesU.S. Government Printing Office, 1985 - Auditors |
From inside the book
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Page 3
... per- cent of the Nation's thrifts are at least technically insolvent , I would have thought that he would be able to accommodate the sub- committee's schedule . It is apparently a question of priorities , Mr. Chairman , and I think Mr ...
... per- cent of the Nation's thrifts are at least technically insolvent , I would have thought that he would be able to accommodate the sub- committee's schedule . It is apparently a question of priorities , Mr. Chairman , and I think Mr ...
Page 7
... percent , almost 300 basis points off the same transaction to an independent third party and sophisticated bank like Chase or Crocker . We don't know what this meant . We took the blotters , on a small PC computer , we started tracing ...
... percent , almost 300 basis points off the same transaction to an independent third party and sophisticated bank like Chase or Crocker . We don't know what this meant . We took the blotters , on a small PC computer , we started tracing ...
Page 14
... percent on the money , and for the first time in a long time as you recall , interest rates had dropped in late 1984 and now ESM could borrow that money that it was lending to American at essen- tially 9 percent to 10 percent . So ESM ...
... percent on the money , and for the first time in a long time as you recall , interest rates had dropped in late 1984 and now ESM could borrow that money that it was lending to American at essen- tially 9 percent to 10 percent . So ESM ...
Page 15
... percent premium on the then current market price . My question to you is , Isn't this deal a classic insider preference ? Mr. TEw . Well , I don't think it is as simple as that . I think the sale of a controlling block of stock can be ...
... percent premium on the then current market price . My question to you is , Isn't this deal a classic insider preference ? Mr. TEw . Well , I don't think it is as simple as that . I think the sale of a controlling block of stock can be ...
Page 16
... per- cent down . With the benefit of hindsight , had the company paid him the downpayment , ESM would have collapsed before the first annual payment and American would never have had to pay the balance of the money . That is conjecture ...
... per- cent down . With the benefit of hindsight , had the company paid him the downpayment , ESM would have collapsed before the first annual payment and American would never have had to pay the balance of the money . That is conjecture ...
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Common terms and phrases
accepted accounting principles accounting principles acquired acquisition agency agreement American Savings approval arbitrage assets and liabilities audit basis Beverly Hills Savings BLACK BRILOFF business combination Certificates Chairman Gray CHRISTY committee confidential conflict of interest Counsel DINGELL Director documents equity Ewton examination reports Exchange Act fair value FASB Federal Home Loan Federal Savings FHLBB filed financial statements firm FSLIC funds GAAP going goodwill Government Securities hearing Home Loan Bank insured institutions intangible assets involved Kamp letter liquidation Loan Association Loan Bank Board Loan Insurance Corporation LUKEN matters million Mostek net worth NEUBERGER Office Ohio percent principal problems purchase question Raiden Receiver/Trustee record recusal regulations regulatory repo repurchase repurchase agreements request response reverse repo Savings and Loan Shepard Broad SIKORSKI staff Supervisory Agent Task Force Thomas Tew tion transaction voting trust Warner Washington worth WYDEN ZIMMERMAN
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