Ohio S and L closings shake world currency markets
A dramatic episode in global forex saw the dollar fall after 70 Ohio savings and loan associations closed, extending fears of a run. European traders dumped the dollar, gold surged, and analysts blamed overreaction and misread U.S. banking resilience while noting the event tested Fed policy and market nerves.
MENTIONED IN THIS ARTICLE
New York
David and Goliath
U.S
Ohio
Home State Savings Bank
Cincinnati
S&ls
Ohio S&ls
United States
Ohio shuts 69 private banks over Florida collapse
Ohio ordered the closure of 69 privately insured savings and loans after the Florida based ESM Government Securities Inc failed. Depositors faced a crisis of confidence as Home State Savings Bank collapsed, runs followed, and state officials sought federal insurance support while Conservator Arlo Smith and special prosecutor Kane pursued regulatory changes. Marvin Warner, owner of Home State, denied wrongdoing amid lawsuits and criticism.
MENTIONED IN THIS ARTICLE
Cincinnati
Federal Insurance
Century Savings
Federal Savings and Loan Insurance Corp
William S. Bergman
National Association of State Savings and Loan Supervisors
Ohio
ESM
Government Securities Inc
Fort Lauderdale
Fla
Home State Savings Bank of Cincinnati
Home State
Ohio Deposit Guarantee Fund
Richard F. Celeste
Arlo Smith
Cleveland
Smith
Celeste
Lawrence A. Kane Jr
Marvin L. Warner
Time helps grow college fund with longer horizon
Financial focus urges planning based on future needs. Time, measured in years, directly affects how much to invest to reach goals like a 12000 education fund. Delaying increases monthly contributions sharply, while early action reduces required sums and builds a strong framework for retirement and children’s education.
Pan Am Strike Ends Tentatively After 24-Day Walkout
Pan American World Airways reaches a tentative settlement with striking ground workers after a 24 day walkout that halted half the airline’s flights. Ratification votes by 5,800 TWU members are required before workers return. amid April 1 flight attendant strike deadline.
MENTIONED IN THIS ARTICLE
NEW York
Pan American World Airways
Transport Workers Union
Robert Brown
Jeff Kriendler
Pan Am
TWA
Also Mentioned on This Page
Federal Reserve System
Chicago Tribune
Federal Home Loan Bank Board
U.S. League of Savings Institutions
Warner
Federal Reserve Bank
Stan Cunnhingham
Edward D. Jones&Co
Pan American
Miami
Houston
Los Angeles
San Francisco
Honolulu
N. Castell
Southwesten Life Vision
Universal Life
Henry T. Martin
Southwestern Life
New Braunfels
Landa St
Texas
Atari Computers
General Ledger
Southwestern Bell Mobile Systems
Rock ST
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