Penn Square Bank Collapse Tied to Secrecy and Oil Loans
Oklahoma City AP bill Johnson reports at House Banking hearing secrecy and oil loans fueled Penn Square Bank failure. Chairman Fernand J. St Germain says more disclosure could have prevented the collapse. executives say they were kept in the dark about its precarious condition. Bank closed July 5 by Comptroller of the Currency.
MENTIONED IN THIS ARTICLE
Bill Johnson
Associated Press
Oklahoma City
Penn Square Bank
Congressional
Penn Square
Fernand J. St Germain
St Germain
Comptroller of the Currency
House Committee On Banking, Finance and Urban Affairs
Reagan raises VA budget by 1 billion dollars
National security adviser William P. Clark announced at the Veterans of Foreign Wars convention in Los Angeles that the administration proposes a 7.6 billion dollar Veterans Administration budget with no cuts to basic veteran benefits. He tied the boost to showing national commitment while urging a ban on exporting U S technology for a Siberia to Western Europe oil pipeline, citing Afghanistani deaths and arms buildup. About 5,000 attended the Monday session, with 35,000 expected for the week at the Los Angeles Convention Center. Clark said Reagan would speak later, but stayed in Washington. He also noted some Americans may still be held captive in Southeast Asia, pledging full use of intelligence to resolve the cases.
MENTIONED IN THIS ARTICLE
Los Angeles
National Security
William P. Clark
Veterans Administration
Clark
Reagan Administration
United States
U.S
Siberia
Europe
Los Angeles Convention Center
Reagan
Washington
Middle East
Southeast Asia
Also Mentioned on This Page
Bill G. Patterson
Carl W. Swan
Fenage Allen
Longhorn Oil and
As Co
Bill P. Jennings
Eldon L. Beller
Frank Annunzio
Dill
Jennings
Patterson
Chase Manhattan Bank of New York
Penn Banker
B.G. Patterson
Oscar DE LA Renta
Bago Ltd
DEVON
Ordini
Pierre Cardin
Parkway
Oakwood
Leeel Pew
Visa-Mastercard
Zvideo C
AMAA
Chia
Channe
I. Veanet * Petite
Kama
Whirlpoot
Live Oak Plaza
East 8Th
Rlitty
Ons
Von
VwVene Hee
Dellwood Plaza
Illinois
Midland
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