Ohio Governor Cites No Warning on Home State Banking Crisis
Gov Richard Celeste says he received no heads up about Ohio banking turmoil. He admits little experience with banking matters and recalls only asking about interest on family savings. A memo explaining why Ohio's private deposit insurance fund could not fail was his sole contact with state savings and loan regulators in two years.
MENTIONED IN THIS ARTICLE
Columbus
Richard Celeste
Celeste
Ohio
Nebraska
California
Savings and Loan
Donald Lukens
State Senate Finance Committee
James Rhodes
Clark Wideman
Rhodes
Savings and Loans
Wideman
Commerce Department
J. Gordon Peltier
Huddleston
Warren Tyler
State Department of Commerce
Huddieston
Home State
Kenneth Cox
Ohio Deposit Guarantee Fund
Ohio crisis tied to Home State collapse and regulatory clash
Ohio regulators faced criticism after Home State Savings Bank failed following deals with a Florida securities firm. Chemical Bank of New York eyed buying Home State while state insurance funds collapsed, sparking a broad inquiry into regulators and political influence surrounding Celeste administration and financier Marvin Warner.
MENTIONED IN THIS ARTICLE
Ohio Savings and Loan
C. Lawrence Huddleston
Celeste
Home State Savings Bank of Cincinnati
Florida
Chemical Bank of New York
Home State
Ohio
Marvin Warner
Cincinnati
Warner
ESM Government Securities Inc
Ft. Lauderdale
Tyler
Burton Bongard
Florida Securities
Securities and Exchange Commission
FBI
Congressional
S&L crisis seen as catalyst for national banks rise
In Cincinnati, Burton Malkiel of Yale argues Ohio's savings and loan collapse will push the U S toward larger national banks within a decade. He says competition among big banks could benefit the public and foresees expansion to insurers and brokerages. Malkiel cites capitalization gaps and favors greater insured premiums tied to capital to curb risk.
MENTIONED IN THIS ARTICLE
Cincinnati
Yale School of Organization and Management
Ohio
United States
Burton G. Maikiel
Home State Savings Bank
Malkiel
Wall Street
Ford
Council of Economic Advisers
Bank of America
United Kingdom
Butts proposes state loan and work study for Ohio students
Ohio State Senator Charlies Butts of Cleveland backs a state guaranteed student loan program and a state funded work study plan. The bills would start in 1987 and allow up to 5000 dollars per year for undergraduates and graduates, with income limits up to 50000 dollars. Loans would be bank issued and state guaranteed, with repayment delayed until a year after graduation.
MENTIONED IN THIS ARTICLE
Cleveland
Charlies Butts
Butts
Stuents
Ohio Student Association
Reagan
Jack Shaner
Shaner
Ouster petition against Rochester Councilman on hold
A probate court paused the ouster petition against Rochester Councilman Clair Storrow pending a judge’s ruling on its legality. Judge Robert Corts will consider written arguments before deciding whether to proceed, as signatures on the March 19 filing by former Councilwoman Sue Leiby are being questioned.
MENTIONED IN THIS ARTICLE
Elyria
Rochester
Clair Storrow
Robert Corts
Sue Leiby
Elyria School Official Pleads Guilty in Theft Case
Elyria, Ohio former director of transportation and maintenance Kick pleaded guilty to grand theft in a scheme to buy automotive parts with public funds. Judge Adrian Bedleski accepted the plea. Kick faces 6 months to 5 years. Sentencing set after a pre sentence report in Lorain County Common Pleas Court.
MENTIONED IN THIS ARTICLE
Elyria
David P. Kick
Elyria City
Lorain County
Also Mentioned on This Page
Eileen Ogintz
Laurie Cohen
Chicago Tribune
Gov
Congress
David Schiebel
Fox
Stephen Farrar
North Carolina
Rockwell International
Palmdale
Calif
S&l
Federal
Cleveland Democrat
Senator
Leiby
Certs
Corts
Kick
By Scott Stephens
Grand Jary
Kirk
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