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Restoring The Bill of Rights One Website at a Time
The Great Texas Bank Job
Campaign Finance Corruption, Colonias Land Fraud, the Texas Judicial MAFIA and a Whole Lot More.
(May 26, 2000) I believe that very shortly I will be setup AGAIN on more Red Herring FALSE Charges by Local and Probably Federal Prosecutors. The reality of Retaliation and Persecution for revealing truth in America is all to real for myself, my children and Debra. Many, Many BILLIONS were looted using Whitwaters & Castle Grande all over Texas and America. As are the Castle Grande and Whitewater, DIRT ROAD SUBDIVISIONS are how the Banks and S&Ls were looted in the 1980s and how it was done in the 1920s. This is a Plea for assistance, the Government wants me silent, DEAD Silent and as they say in the executioners lounge THIS An't No JOKE !!!
GEORGE W. BUSH THE REAL RECORD
The Looting of Savings & Loans and Banks in Texas
"The Senate, Congressional, Injustice Department, FBI and State Court Cover Up Exposed" Congressional Banking Committee Members PLEASE EXPLAIN the Thousands of Criminally Developed Dirt Road Subdivisions across Texas (Just like Whitewater & Castle Grande)
Illegal, Unrecorded Subdivisions & COLONIAS, Whitewater, Stone Bridge Ranch, Valley of the Lakes and Thousands more WAKE UP AMERICA
Closely Compare the Similarities to the Valley of the Lakes RICO Indictments
If you Doubt This ?
has extensive colonias, beyond the border counties as well as along all but a
very few of the border counties. This map is based on map shown at the State
of Texas Site. This map and all the others in this series are prepared with
HUD's Community 2020 software, for use by citizens, organizations and local
HUD's Half Truth is the Tip of the Iceberg
(Montgomery County is not listed hmmmm????)
The Most Costly Bank Lootings in World History
It is well established fact that the Congressional and Senate Banking Committees have revealed that Dallas and Houston, Texas are the Bank and S&L Looting Capitols of the United States. ( Little Rock Arkansas NOT ) According to the General Accounting Office more than 56% of the entire National $550 Billion in losses attributable to Insider Fraud were perpetrated in Texas. Simple math reveals that if $338 Billion is required to Bailout the S&L and Banking System at least $338 Billion was Taken. ($676 Billion Final Cost just in Texas) This Web Site is dedicated to exposing how the Texas and United States Government condoned, encouraged, participated in and are conspiring to Cover Up the Real Estate Fraud and similar schemes responsible for the more than 1.1 Trillion Dollar Bailout of the Deposits that were Looted from the S&Ls and Banks across America
Considering the fact that names like George H & George W Bush, Henry Hyde, Jim Wright, Bill & Hillary Clinton, Webster Hubble, Jim & Susan MacDougal, Guy Tucker, Charles Keating, Herman K Bebee, Oliver North, BUCK Revell , Richard Secord, John Poindexter, John Glenn, Senator , Congressman Deconcini and many, many other well connected Public Figures, Politicians and Corporations are Directly Involved, is it no wonder that Starr, Thompson, Glenn, Janet Reno, Edward Messe, and FBI Directors Sessions and Freeh have demonstrated over and over and over again that our current law enforcement authorities are terribly, terribly corrupt and unworthy of the Trust of the American People .
If you do a search engine search of the Terms COLONIAS or Illegal Subdivision in Florida, Georgia, Alabama, Mississippi, Louisiana, Texas, Arizona, New Mexico, Nevada and California you will find that there are THOUSANDS of these WHITEWATER style land fraud schemes all over America. The Federal Reserve Bank in Dallas, the Texas Water Development Board, the US Dept. of Housing and Urban Development, the Texas A&M University, the Texas Housing Coalition and the Texas Border Coalition have amassed great amounts of information regarding the REALITY of these Land Fraud Schemes (See the legislative history of Former Texas Penal Code 1137h, Texas House Bill 473, May 20, 1931 as well as the Texas Property Code Chapter 12 et sec and the Texas Local Government Code for Subdivision Recording Laws)
This is the US Government Half Truth Map
Whitewater and Castle Grande NOT Mapped or Listed ??
What Other Great Americans Have Said About Corrupt Banksters and Those That Make Them Possible
Follow this link to
Loads of Corroboration and Witness Accounts
Explosive Government Corruption Links
The Postal, Consumer, Wire and Bank Fraud associated with this Debacle is MASSIVE
(Seems as Though Texas is Not Alone, found this today 2/25,1999 JW)
At http://www.dallasmorningnews.com/ search the Southwest and Texas Archives for the term Illegal Subdivision and Colonias (Set the Engine for 150 hits on the archive.) The Associated press QUOTES Texas Governor George W. Bush, State Attorney Generals and many others identifying these Unrecorded, 3rd World like, SLUMS or Whitewater Style Developments as ILLEGAL Schemes.
( Search the Houston Chronicle Archives
for "Red Flag Subdivisions" or Potholes and Promises all about
Montgomery County's Crumbling Subdivisions.)
550 Billion Reasons For a Cover Up The Bombing Murder of Don Bolles
"The first thing Klass noticed was the blood-thick and bright--dripping into a widening pool beneath the car. His stomach reeled. A man sprawled half out of the driver's side, his torso face down on the asphalt, his legs draped at a grotesque angle across the seat and onto the floor of the car. The injured man was conscious, though obviously in deep shock. His glazed eyes darted frantically back and forth and his shoulders heaved, as if he was trying to push himself upright...." (Don Moments after the BLAST that KILLED HIM) JW
This Page is Gratefully Dedicated In memory of the
Bombing MURDER of Mr. Don Bolles the
central figure of the IRE's Arizona Project and his paying the ultimate price
for Exposing The Arizona Land and Bank Fraud Schemes of the 1970s. Also the
recent Hanging Death of Mark Lombardi. Mark's enormous investigation into
Banking Conspiracies as Diagramed and Expressed in his Art, Chronicled the
massive involvement of many, many Politicians and other famous personalities
that were Directly involved in the Banking Conspiracies. According to an
interview tonight, New York Police have expressed that Mark May Have Been Hung
by those wanting him SILENCED. To all Mark's and Mr. Bolles family and friends our deepest regards see Press Reports on these investigators work which
Chronicles Government Involvement in the BIGGEST Bank Jobs in History. You can
find Mark's Art and Stories about his Death at the New York Times and the
Houston Chronicle. The Land Fraud Scheme known as Valley of the Lakes,
and the Houston Chronicle Series Potholes and Promises regarding 635 Illegal
Whitewater Style Projects just minutes North of Houston are the continuing saga
of Government Endorsed and Perpetrated Corruption.
Montgomery County is not on the Colonias Map (It has 635 )
Henry Cisneros Hiding more than his mistress !
The SAVINGS AND LOAN SCAM Pages
What others are saying
A. Press here to go to SAVINGS AND LOAN SCAM pages introduction
B. LIST 1: LOOTED S&Ls; AMOUNTS LOOTED
C. LIST 2: LOOTED S&Ls; NAMES OF DEFAULTERS
D. LIST 3: LOOTED S&Ls; PROPERTIES TO SPECULATORS
E. LIST 4: LOOTED S&Ls; "FORGIVENESS OF LOANS"
F. MR. HYDE AND THE CLYDE S&L
G. LINCOLN TIMELINE
H. LINCOLN SKIMMING AND SHREDDING
J. FOUR TYPES OF POLITICAL CRIMINAL ACTS
K. WHY WAS THERE A WHITEWATER INVESTIGATION?
L. INTELLIGENCE AND NEWS -- INFORMATION OR INDOCTRINATION?
M. SAVINGS AND LOAN LOOTING TECHNIQUES*
N. WHO WATCHES THE WATCHERS?
Why was Jim MacDougal Placed in Solitary ? Why was
Jim MacDougal Refused Access to Doctors on the Day of His Death ? He
was a Known Cardiac Patient exhibiting Pre Heart Attack Symptoms WAS Mr.
MacDougal MURDERED to SILENCE HIM ? He knew about LOTS more Whitewaters in
Arkansas and was STARTING TO TALK ! Examine the COLONIAS and Illegal Land
Development FACTS present on this site. WAKE UP your Government is CORRUPT.
I'll Bet JurisNot is Right On The Money !
How many Crooked Land Developers, Bankers, Title Companies, Realtors, or Promoters have been Prosecuted Mr. John Cornyn ? How many do You Think Governor Bush ? And yourAnswer is what Janet Reno and Louis Freeh ?
Land Development Fraud the Bank looting Scheme of the 19th
and 20th Century
Update Oct 27, 1999
The Stone Wall Continues 8/26/200 State AG Cornyn, State DA MacDougal and the Montgomery County Attorney REFUSE to make Copies of the Perpetrators Names Available. The Cover Up Continues.
Feb 2 1998 , The stonewall, diversions and lies continue The County Attorney Continues to COVER UP and Obstruct access to Public Records Judge Wood could care less ???
Judge Sharolyn Woods continues to ignore the Texas Open Records, Civil Rights laws (Yen Right) Our Freedom of Speech is Murdered. The idea here was not to give us a Trial at All. The Law works like a Swiss Rolex when they want to RAPE you. When you have a real case against the Government the whole process does not work and is very, very corrupt. Just ask Paula Jones why Susan Weber Wright Summarily Dismissed her case against President Clinton !! (Later to discover CLINTON LIED) Montgomery County and the Bankster Gangs behind the Politicians, Crooked Lawyers and other assorted Con Men involved in the 635 "Whitewater Style Subdivisions" that Montgomery County has been forced to admit to, apparently have plenty of pull with this Good Ol Girl. Our Case is Summarily Dismissed without any explanation. The State definitely wants me out of the picture and Silenced.
May 12, 1998
"Soft Money Boys?"
Yeah, uh huh !!
The Financial Wizardry of the Bush Gang
D-CIA Government Corruption Links
Psssst, Hey " Don't forget to add the cost of the COMPOUND INTEREST on the Debt"
Greetings from Conroe, Texas
"The Bank Fraud - Obstruction of Justice- Judicial MAFIA Illegal Land Development and Secret Government Records Capitol of Texas"
"U.S. President William Jefferson Clinton"
"U.S. Senator Fred Thompson"
"U.S. Senator John Glenn"
"U.S.Congressman Dan Burton"
"U.S. Congressman Tom Lantos"
"U.S. Attorney General Janet Reno"
"FBI Director Louis Freeh"
"Governor George W. Bush Jr."
"Special Prosecutor Kenneth Starr"
"Texas State Attorney General Dan Morales"
"Texas State Attorney General John Cornyn"
"Montgomery County Judge Alan Sadler"
"County Attorney Frank Bass"
"Judge Sam Robertson"
"District Attorney Mike MacDougal"
"William Fowler Crooked LIAR at Law"
"Mr. David Walker Assistant County Attorney"
VP AL Gore
Why does Montgomery County, Texas admit to having 635 Illegal and Collapsed Developments and so many failed Banks and S&Ls ???
Governor George W. Bush What are the names of the PEOPLE involved in these very, very ILLEGAL Land Development Financing, Marketing, and Brokering Schemes ?
Why has there been this Cover Up ?
Wouldn't be Campaign Donations and Hush Money !
At this time Mr. Witham is pursuing litigation in the 359thState
District Court sitting in Conroe, Texas (the Montgomery County Seat). Cause
Number 96-11-04068-CV is primarily a Texas Open Records Act and Federal Freedom
of information Act case. Federal, State and local Authorities, including the
FDIC, FBI, RTC, Texas State Attorney General, Montgomery County Attorney as well
as the Montgomery County Commissioners are currently Stonewalling Witham's
Marathon Efforts to gain access to the names or identities of the Financial
Institutions, Land Developers, Land Owners and Real Estate Brokers that
developed, financed, and marketed the more than
60 Thousand Acres of completely Illegal, failed, substandard, WHITEWATER style subdivisions in Montgomery County.
July 7th 1999
Intense Efforts are underway to force the FBI, Justice Dept., HUD and the State of TEXAS to reveal all of it's records on the DEBACLE behind this MASSIVE Land, Financial, Postal and Wire Fraud RACKETEERING. The same OBSTRUCTION tactics experienced by the Producers of the Film Waco The Rules of Engagement are being employed to Keep These Records SECRET Please help and support us in anyway you can !
Montgomery County, Texas
has 635 Illegal Whitewater Style Developments and the State Fights Access to it's Secret Records and Files
Federal Judge James DeAnda Ordered the Names of the People WHO did these Illegal Schemes Copied for me. WHY are the Local, State and Federal Government keeping the Names SECRET ????
Cover Up We Must the Government stands to be Exposed
FBI is Concealing The Names of the Crooks and Banking Corporations
Former Asst. US Attorney Henry Onken why the COVER UP ?
The Senate and Congressional Obstruction of Justice Exposed
Senator Danforth, Bob Barr, Chuck Grassly, John & Rheeta Sweeny, Linda Thompson , Dan Gifford, Mike Caddel, Judson Witham and many hundreds of other fine Americans across America call on Janet Reno, Bill Freeh, the Senate and the Congress to account
Full Hearings and Investigations into FDIC, RTC, BATF, FBI and DOJ
We paid for the 1.1 trillion dollar Great American Bank Job
Add Whitewater to the Montgomery County list of Illegal, Collapsed, never were planned to succeed Subdivisions and it would make Land Fraud Scheme
No. 636 Six Hundred and Thirty SIX
Valley of the Lakes would be No. 637
Civil Rights , oh yeah sure, If You Can Afford to Buy Them
" The US Supreme Ct. Rule is, it is Grounds to Suspend All your Rights "
On several Occasions Witham has been FALSELY ARRESTED, FALSELY INCARCERATED, IRS AUDITED and Demonized, and is now currently being Extorted for Imaginary Deed Restriction Violations at his Home, by those loyal to the Judicial Mafia at the Montgomery County Courthouse, more retaliation for his Free Speech and Civil Rights Litigation.
In the Fall of 1995 the Witham Home was treated to an effort to place White Phosphorus Flares dropped from a Military Style Helicopter on the roof of the home. Witham has every reason to believe that this was an effort to BURN HIS HOME thus destroying his efforts to continue this battle.
"With Freedom and Justice for None"
Are you Next
Many, many, many Good Americans have already been attacked, simply for engaging in activities that are supposed to be Protected by the 1stAmendment. Lets not forget the IRS agents who testified from behind screens and had their voices altered IN CONGRESS !! Do you still doubt me ?
Freedom of Speech without the fear of retaliation and the World Wide Web must be preserved to serve the interests of Truth, Freedom and Justice for All.
Demand Freedom of Speech on the Net
ACCEPT NO LESS
Hind Sight is 20-20
These Links Follow the Money Trail.
Just When you thought it was safe to go back in the water
The Vancouver BC Lie of the Year
The American Bailout of Asian and
Pacific Rim Banks, Mexico Style, the Global Bank Job that keeps going and going
and going and growing and growing and growing and growing, will only cost
Billion, 15 or 20 Billion, well
maybe 68 BILLION ? ?
The Asian Bank and Market Bailout the largest BAILOUT EVER (USA Today)
The Largest Lie Ever You Mean
$68 Billion vs. $550 Billion
Today WAKE UP, who do you think you're fooling ?
"More Giant Sucking Sounds" Ross Perot 11/26/97
Just Like the American Bank System Looting you are being LIED TO and SENT the BILL again
The Greenspan, William Seidman, Danny Wall, Bill Clinton plan to Tax the Bailout of Japanese, Korean, Philippine, and other Asian Banks to America. The New World Orders Tax Plans.
You are being Lied to again
International Criminals & Bank Looters profit while America's World Taxpayers Get the Bill !
We Must Curb Nafta & GATT, and Neuter the UN
Rebuild America NOW
Most Favored Nation Trading Status for China in FACT undermines every last American's standard of living, working class America you can not compete against .30 cents an hour labor PERIOD. The free access to our Markets by Oppressive Third World and Communist Economies is WRONG. Working Class Americans it's a lose, lose, lose policy for your families. While American trade Deficits to Pacific Rim Nations, China and Mexico go ballistic , the Senate and Congress want to extend so called free trade policies and the massive trade deficits ( to further destroy ordinary Americans standards of living) to more than 28 more Central and South American Countries. (the Caribbean Initiative) The Rich Corporations and International Banking Illuminati will Get Richer and Richer and the American Working Class will be come less able to compete in the Global Market Place. The Poor will get Poorer.
Fair Trade NOT Free Trade
The United Nations is at the speed of light becoming
the New World Order's appointed not elected World Government. How many UN
Officials have you ever VOTED FOR?. Do they even plan to have elections? Wake Up
Here's the TRUTH
The Internet Campaign for the Restoration of the Bill of Rights
Last Updated on August 26, 2000
Read the Findings of Others on the National Bank and S&L Lootings
Welcome to the Web Pages
Looting of U.S. Saving and Loans
This is an UPDATE to the original S&L pages. Much of the material in these pages is coming from a series of letters I wrote to the San Jose Mercury News beginning in April 1994 in an attempt to get them to balance their reporting of Whitewater with equally vigorous reporting on the three Lootings of U.S. Savings and Loans during the Reagan and Bush administrations. The letters were based on research into the Lootings from several books written in the late 1980s and early 1990s.
In addition to a request for balance and fair play, I was attempting to redress the failure of the Mainstream Media to cover the Lootings at the time they occurred. The Mainstream Media reporting on the Lootings was fragmentary, spread out over a period of several years, and never received extensive investigative reporting. There were exceptions, Pete Brewton's articles in the Houston Post that resulted in his The Mafia, CIA & George Bush in 1992 and a series of articles by three northern California writers that resulted in their Inside Job: The Looting of America's Savings & Loans published in 1989. By 1994 and the Whitewater coverage it was evident that no one in the Mainstream Media or the reading public as a whole, had read either book.
Today, in 1998, the reading and viewing public in the United States are subjected to a daily barrage of material intended to entertain and indoctrinate. Information on serious subjects important to the future of this country are ignored, dumbed-down or distorted . On some subjects -- sports and sex, just to name a few -- the coverage is so great we begin to suffer from a state of mental indigestion. In vivid contrast, we have some topics the Mainstream Media simply will not cover today and did not cover in the past. The Lootings of the American Savings and Loans from 1985 to 1995 is one of these topics. On this subject, the American people are simply not Information-Poor, they are Information-Starved.
As you will see in some of pages, the
letters usually are based upon one or more of those unread books on the
Lootings. It is still my intention to put together a time-based narrative of the
specific S&Ls that were looted for the benefit of wealthy Republicans. But
on re-reading some of the letters I have come to realize that their sense of
immediacy and purpose would be lost when re-written in narrative form. Moreover,
the preparation of the narratives will take me weeks and months of work. So I
will give you the letters now, and in a few months, the narratives. (The meat
now, the potatoes, or is that the potatoes, later).
Letter of April 4, 1994- - The Role of the Mainstream Media in the Whitewater Investigation
Letter of April 8, 1994 - Four distinct types of Political Criminal Acts
Letter of April 8, 1994 - Lincoln Savings and Loan -- The Timeline
Letter of April 16, 1994 - Lincoln Savings and Loan - The Skimming and the Shredding
Letter of April 18, 1994 - Silverado - The Cover-up of a Cover-up
Unsent Letter of April 23, 1994 - Bread and Circuses
Letter of May 1, 1994 Who Watches the Watchers?
A Letter to Congressman Barney Frank, May 2, 1994 (in preparation)
Savings and Loan Looting Techniques
Broward (in preparation)
Sunrise (in preparation)
Mainland (in preparation)
The Arkansas S&Ls (in preparation)
Herman Beebe and the Palmer National Bank (in preparation)
I have been studying the S&L Scam of 1985 to 1995 for almost four years now. As I have mentioned elsewhere, the coverage of the three SEPARATE LOOTINGS of the S&Ls in the Mainstream Media is a joke.
For something that has cost the American taxpayer between $400 BILLION and $500 BILLION dollars the lack of Mainstream Media coverage is somewhat curious until you realize they believed this information was best kept from the American people. After all, the money went into the RIGHT pockets, didn't it?
For something that has cost the American taxpayer between $400 BILLION and $500 BILLION dollars the lack of information from the Government on the extent of the Scam is disgraceful. With these Web Pages, I hope to accomplish three objectives.
My first objective is to convince President Clinton to
(1) Direct the OMB or the Treasury Department to produce a current study on the amount of money the S&L Scam has ;cost the American taxpayers to date.
(2) Have Clinton open the files of the Resolution Trust Corporation and the other S&L regulatory agencies to investigation, preferably through posting on the Internet.
(3) I even have some hope of convincing Janet Reno that another OIC needs to be appointed, this time determine if any people in the S&L regulatory agencies, or in her department or the FBI were part of the Scam. As far as I can determine, if a federal official had been involved in criminal acts to protect a fellow Republican (or Democrat) then the statute of limitations no longer applies.
Fortunately a number of good reporters did write some books on the subject, and these have provided much of the information that I used in a series of letters to the San Jose Mercury News from early 1994 onwards in an attempt to get some investigative reporting into the S&L criminal activity. I received no replies to any of them. Let an aged movie star die and he or she gets front page coverage. Let the average American family be robbed of from $5,000 to $10, 000 dollars apiece and there is no story. It is also interesting that at least two of the reporters writing on the S&L Scam (Pete Brewton and Stephen Pizzo) have now been ostracized by the main stream media.
While all of the Web Pages on the Savings and Loan Scam will be works in progress, there is a special set of Pages that should be close to the heart of anyone who wants the S&L criminals and the government officials who shielded them during the 1980s and early 1990s, identified and indicted for criminal acts against the people of the United States. Well over a thousand Savings and Loans collapsed during the Reagan and Bush administrations and were responsible for much of the billions of dollars it cost the American people. Yet I cannot locate a list of these S&Ls and the amounts of money looted from them. Therefore, one of the Web Pages is called
LIST #1 - THE LIST OF THE LOOTED S&Ls AND THE AMOUNTS OF MONEY LOOTED
I will need the help of all those who visit this Web Site to add the names of the looted S&Ls to the list, and the amounts of money looted from each. In addition, please provide the source of information to the E-mail address below.
Because much of this was ignored in the Mainstream Media, Federal and state law enforcement agencies gave a pass to much of this, and even in those cases that were criminally investigated, finally gave a pass to frauds where the money being defrauded was less than $20 million dollars (or was it $100 million dollars?) Certain people were allowed to default on loans in the tens of millions and in at least one case, in the hundreds of millions of dollars. Who were these people? What were their political affiliations? Did they make contributions to the major political parties, and if so, to which ones? Were their political contributions the reason why many of the people were never investigated by state or federal officials, or brought before federal grand juries? Then again, perhaps some of the defaulted loans were legitimate. But in any case, the Mainstream Media yawned and looked away. Therefore another Web Page is called:
LIST #2 - THE LIST OF THE NAMES OF PEOPLE WHO DEFAULTED ON LARGE LOANS TO S&Ls THAT CONTRIBUTED TO THE COLLAPSE OF THESE S&Ls.
As you will see, the initial list is limited to just
a few names.
The first looting of the S&Ls caused them to collapse. The federal S&L regulatory agencies took over the assets of the failed S&Ls. Some of these assets were real property -- buildings and land, or simply land. In disposing of this property, speculators and multi-millionaires were given first crack at acquiring the properties at cut-rate prices. Various public-advocacy groups attempted to acquire some of this property for their programs, but always seemed to lose to the well-connected speculator groups and the rich. I would be glad to create a list showing some of these things if the readers of these pages want to send me an E-mail at the address below. This list would be:
LIST #3 - THE DISPOSITION OF S&L PROPERTIES TO SPECULATORS
Many of the assets acquired by the S&L regulators was in the form of mortgages or other documents indicating that large sums of monies were owed to the S&Ls (and now to the American taxpayer). Some effort was made by the S&L regulatory agencies to recover some of this money, but the more aggressive lawyers and investigators involved in the recovery effort were somehow laid off or transferred to other jobs during the last year of the Bush Administration. Again the Mainstream Media yawned and looked the other way. There was one article in the Washington Post on Senate Hearings into this in August 1992, and then silence.
Another policy adopted by the S&L regulatory agencies during the Bush Administration was a policy of the FORGIVENESS OF LOANS. This came to light for a day or two in October 1990 when Jeb Bush and his real estate partner were able to pay off a $4.65 million dollar mortgage for $505,000 (see below). It is indeed possible the money to pay off the mortgage came from the original $4.65 million dollar loan. Again, perhaps it was legal, but it was never examined by the Mainstream Media and continued to raise questions to this day. How many other well-connected people in this country were able to pay off their loans to defunct S&Ls for pennies on the dollar? We do not know. The Mainstream Media thought this kind of information was not necessary for the people of this country to know. I would like to put together a list of the names of those persons whose loans were FORGIVEN by the S&L regulatory agencies.
If I can get some names and dollar amounts, they will be added to the single name of Jeb Bush in
#4 - THE FORGIVENESS OF LOANS BY THE REAGAN-BUSH S&L REGULATORY AGENCIES.
Unless the readers of these pages can think of other lists that could be used to inform the American people of the GREAT S&L ROBBERY, the remainder of the Web pages in the S&L section will be devoted to specific cases on which there is some documentation.
I have selected the following S&Ls and a
National Bank in Washington, D.C. for study because of failure of the Mainstream
Media to report on stories pertaining to their looting and because they are
linked to prominent politicians, past or present.
Broward Savings and Loan in Florida
This should be sub-titled "How Jeb Bush and his
real estate partner were able to purchase an $9 million office building in
Florida on money that probably came out of the pockets of the American
taxpayer." Perhaps there is more to the story than I have been able to
uncover, but for some reason the Mainstream Media had absolutely no curiosity
about this story and gave it VERY LIMITED coverage (one story in the New York
Times, one in the Washington Post). Both of these stories referred to a new
Resolution Trust Corporation policy of the FORGIVENESS OF LOANS. Evidently if
you were well-connected politically and you had borrowed millions of dollars
from Savings and Loans that later failed, the RTC would let you off the hook for
pennies on the dollar. It was excellent way to obtain property and have the
American taxpayer pay for it.
Sunrise Savings and Loan, Boynton Beach, Florida
During the Federal trial of the officers and employees of $1.5 billion dollar Sunrise Savings and Loan in 1989 one witness, Ronald Berkovitz, claimed that then Vice-President George Bush had told a senior S&L regulatory examiner to back off from an examination of the S&L in 1984. In his testimony, Berkovitz claimed that Bush did this in front of Robert Jacoby, the Sunrise CEO, who had gone to Bush to complain "that federal examiners were being too tough on Sunrise." Less than a year later, in July 1985, Sunrise crashed at a cost to the American taxpayers of $680 million dollars. The Berkovitz testimony was later confirmed by another official close to Sunrise. The Reagan-appointed Federal Attorney for that area of Florida made no effort to indict Berkovitz for perjury, or to question other officers and employees of Sunrise Savings and Loan about the matter.
Peter Brewton, who wrote one of the best books on
the Savings and Loan Scam, had to learn of the Berkovitz testimony from an
obscure legal journal in the Miami area. Although the trial was covered by the
Miami Herald, a Knight-Ridder newspaper, I could find nothing in the archival
pulls of the Miami Herald that even touched upon this testimony. There is one
quote from the Herald, published after the conviction of Jacoby and another
Sunrise executive that sums up the matter nicely. "In the end, it wasn't
incompetence, a poor economy or crummy luck that killed Sunrise Savings. It was
criminal activity." The Miami Heral. Nov 6, 1989.
Lincoln Savings and Loan in California - Part Two
We all know of the first part of the story of Charles Keating and the infamous Keating Five: Senators McCain and DeConcini of Arizona, Glenn of Ohio, Cranston of California, and Riegle of Michigan.
For some reason, the Mainstream Media did not cover the second part. This consisted of a meeting between the members of the San Francisco FHLBB and the senators in early 1987 when the FHLBB people evidently convinced four of the five senators that Keating was engaged in a number of criminal acts. (see the Lincoln page). The Senators were not heard of after this, and some returned their contribution. But somehow the Mainstream Media hung a maverick Republican and four Democratic senators out to dry as the Keating Five. The Keating Five and the Keating Five alone were held responsible by the Mainstream Media for all of the crimes of Charles Keating. If you read the Lincoln Savings and Loan Timeline pages, a completely different story emerges.
The San Francisco FHLBB sent a criminal referral to the Reagan Justice Department on April 9, 1987 and in May 1987, recommended that Lincoln be seized at once. After Ed Gray is forced out of the FHLBB in Washington, Reagan appoints M. Danny Wall to the post. Shortly after this, and for the first time in U.S. regulatory history, a regulatory case under investigation at a regional level is transferred from the jurisdiction of the field office to the jurisdiction of the Washington FHLBB headed by M.Danny Wall. Evidently the Republican Mr. Wall was attempting to help out the Republican national committeeman from Arizona, one each Charles Keating. Besides, Wall, who wrote much of the S&L deregulation bill while he was on the staff of the senior Republican senator from Utah, Jack Garn, did not want to discourage free enterprise in the savings and loan industry.
The transfer of the Lincoln investigation to
Washington occurred sometime in late 1987 or early 1988. The movement of the
investigation on Lincoln to Washington delayed the closure of Lincoln until
February 1989. This gave Keating time to issue well over $250,000,000 in junk
bonds to gullible investors in southern California. Some of the proceeds from
the sale of the junk bonds evidently were used to make a $100,000 campaign
contribution to the Bush presidential campaign in 1988. (The junk bond sales was
the only source of income for Keating at this time.)
A Partial Bibliography of the books on the S&L Scam
Trust Me: Charles Keating and the Missing Billions by Micharel Binstein and Charles Bowden - NY:Random House, 1993
Silverado: Neil Bush and the Savings and Loan Scandal by Steven Wilmsen-Washington: National Press Books, 1991
Overdrawn: The Bailout of American Savings by Michael A. Robinson - NY Dutton, 1992
The Mafia, CIA, and George Bush by Pete Brewton - NY SPI, 1992
Inside Job: the Looting of America's Savings and Loans by
Stephen Pizzo, Mary Fricker, and Paul Muolo, McGraw Hill, 1989, Harper, 1991
Other stories that will be published in these pages:
Silverado -in Colorado - How to invest in the oil exploration company of a president's son, and make a fortune from an S&L.
Madison Guaranty in Arkansas. - About the only person who made any money out of Madison is Sheffield Nelson, the Republican National Committeeman from Arkansas since 1990 and the Republican candidate for governor in 1990 and 1994.
Palmer National Bank. How a Republican bank in Washington D.C. got its original capital investment.
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$550 Billion Looted PLUS $550 Billion Bailout
= $1,100,000,000,000, (1.1 TRILLION)
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