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Madison Guaranty
Madison Guaranty Savings and Loan Association was a savings and loan association based in Little Rock, Arkansas. The company operated from 1979 until 1989 when it was shut down by federal regulators as a result of bank failure, leading to a loss of $60 million for the Federal Deposit Insurance Corporation. Beginning in 1982, the bank was owned and managed by Jim McDougal, a friend of Bill Clinton and Hillary Clinton. On March 8, 1992, during the 1992 United States presidential election the bank was the subject of an article in ''The New York Times'' by Jeff Gerth, which linked the bank to Whitewater Development Corporation, owned by McDougal and the Clintons. After Clinton's election as president, the bank was the subject of investigations by the United States Congress and special prosecutor Ken Starr as part of the Whitewater controversy. McDougal was investigated to determine if he improperly diverted money from the bank to Whitewater or the Clinton campaign during the Arkansa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joint-stock Company
A joint-stock company is a business entity in which shares of the company's capital stock, stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their share (finance), shares (certificates of ownership). Shareholders are able to transfer their shares to others without any effects to the continued existence of the company. In modern-day corporate law, the existence of a joint-stock company is often synonymous with incorporation (business), incorporation (possession of legal personality separate from shareholders) and limited liability (shareholders are liable for the company's debts only to the value of the money they have invested in the company). Therefore, joint-stock companies are commonly known as corporations or limited company, limited companies. Some jurisdiction (area), jurisdictions still provide the possibility of registering joint-stock companies without limited liability. In the United Kingdom and in other count ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Whitewater Controversy
The Whitewater controversy, Whitewater scandal, Whitewatergate, or simply Whitewater, was an American political controversy during the 1990s. It began with an investigation into the real estate investments of Bill and Hillary Clinton and their associates, Jim McDougal and Susan McDougal, in the Whitewater Development Corporation. This failed business venture was incorporated in 1979 with the purpose of developing vacation properties on land along the White River near Flippin, Arkansas. A March 1992 ''New York Times'' article published during the 1992 U.S. presidential campaign reported that the Clintons, then governor and first lady of Arkansas, had invested and lost money in the Whitewater Development Corporation.Jeff Gerth"Clintons Joined S.& L. Operator In an Ozark Real-Estate Venture" ''The New York Times'', March 8, 1992. Accessed April 30, 2007. The article stimulated the interest of L. Jean Lewis, a Resolution Trust Corporation investigator who was looking into the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Castle Grande
Castle Grande was a real estate development in Arkansas about 10 miles south of Little Rock. It came into National news as a result of the Whitewater investigations. The project was a lot where Jim McDougal hoped to build a microbrewery, shopping center, a trailer park and other future projects in 1985. The land was scrub pine forest that had failed already as an industrial development. The sales price was $1.75 million. State regulations prohibited Jim McDougal from investing more than 6% of his Madison Guaranty S&L assets. So, he put in $600,000 of Madison money and then for the difference had Seth Ward put in the remaining $1.15 million. This money Ward borrowed from Madison Guaranty on non-recourse, no personal obligation to repay. If federal regulators found out, McDougal's S&L could be shut down, since it had already been operating under orders to correct its lending practices. Seth Ward Seth Ward, an Arkansas businessman and Webster Hubbell's father-in-law, was hired b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rose Law Firm
Rose Law Firm is an American law firm headquartered in Little Rock, Arkansas. It dates its origins to November 1, 1820, sixteen years before Arkansas statehood, when Robert Crittenden, born 1797, and Chester Ashley, born 1791, entered into an agreement for a "Partnership in the Practice of Law". As such, it is the third oldest law firm in the United States and the oldest west of the Mississippi River. It is also the oldest company of any kind in Arkansas. In 2018, the firm elected its first female managing member. In 2020, the firm celebrated its 200th birthday. History Early history – 1820–1865 The Rose Law Firm dates its formation to the 1820 partnership of Crittenden and Ashley, whose handwritten law partnership agreement hangs in the Rose boardroom. Robert Crittenden served as Arkansas' territorial governor and negotiated Arkansas' admission to the United States as the 25th state in 1836. Chester Ashley served as a United States Senator from Arkansas. Between 1837 and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Small Business Administration
The United States Small Business Administration (SBA) is an independent agency of the United States government that provides support to entrepreneurs and small businesses. The mission of the Small Business Administration is "to maintain and strengthen the nation's economy by enabling the establishment and viability of small businesses and by assisting in the economic recovery of communities after disasters". The agency's activities have been summarized as the "3 Cs" of capital, contracts and counseling. SBA loans are made through banks, credit unions and other lenders who partner with the SBA. The SBA provides a government-backed guarantee on part of the loan. Under the Recovery Act and the Small Business Jobs Act, SBA loans were enhanced to provide up to a 90 percent guarantee in order to strengthen access to capital for small businesses after credit froze in 2008. The agency had record lending volumes in late 2010. SBA helps lead the federal government's efforts to deliver 23 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Restitution
The law of restitution is the law of gains-based recovery, in which a court orders the defendant to ''give up'' their gains to the claimant. It should be contrasted with the law of compensation, the law of loss-based recovery, in which a court orders the defendant to ''pay'' the claimant for their loss. Evolving Meaning ''American Jurisprudence'' 2d edition notes: Legal vs Equitable Remedy Restitution may be either a legal remedy or an equitable remedy, "depend ngupon the basis for the plaintiff's claim and the nature of the underlying remedies sought". Generally, restitution and equitable tracing is an equitable remedy when the money or property wrongfully in the possession of defendant is traceable (i.e., can be tied to "particular funds or property"). In such a case, restitution comes in the form of a constructive trust or equitable lien. Where the particular property at issue cannot be particularly identified, restitution is a legal remedy. This occurs, for example ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Savings And Loan Insurance Corporation
The Federal Savings and Loan Insurance Corporation (FSLIC) was an institution that administered deposit insurance for savings and loan institutions in the United States. History Establishment The FSLIC was established by the National Housing Act of 1934, which was signed into law by President Franklin D. Roosevelt on June 27, 1934. Upon the creation of the FSLIC, it was assigned a capital stock of $100,000,000. All federal savings and loan associations were required to apply for insurance through the FSLIC; other building and loan associations whose capital was not impaired were also allowed to apply. The FSLIC was given certain regulatory powers over insured institutions, requiring each institution to accumulate reserves over several years. FSLIC assessed an annual insurance premium, which was calculated as 0.25% of the total amount of all accounts of insured shareholders or members, plus any creditor obligations. The FSLIC would suspend insurance premiums whenever the FSLIC's res ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Receivership
In law, receivership is a situation in which an institution or enterprise is held by a receiver—a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights"—especially in cases where a company cannot meet its financial obligations and is said to be insolvent.Philip, Ken, and Kerin Kaminski''Secured Lender'', January/February 2007, Vol. 63 Issue 1, pages 30-34,36. The receivership remedy is an equitable remedy that emerged in the English chancery courts, where receivers were appointed to protect real property. Receiverships are also a remedy of last resort in litigation involving the conduct of executive agencies that fail to comply with constitutional or statutory obligations to populations that rely on those agencies for their basic human rights. Receiverships can be broadly divided into two types: *Those related to insolvency or enforcement of a security interest. *Those where either **One is Incapable of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert W
The name Robert is an ancient Germanic given name, from Proto-Germanic "fame" and "bright" (''Hrōþiberhtaz''). Compare Old Dutch ''Robrecht'' and Old High German ''Hrodebert'' (a compound of '' Hruod'' ( non, Hróðr) "fame, glory, honour, praise, renown" and ''berht'' "bright, light, shining"). It is the second most frequently used given name of ancient Germanic origin. It is also in use as a surname. Another commonly used form of the name is Rupert. After becoming widely used in Continental Europe it entered England in its Old French form ''Robert'', where an Old English cognate form (''Hrēodbēorht'', ''Hrodberht'', ''Hrēodbēorð'', ''Hrœdbœrð'', ''Hrœdberð'', ''Hrōðberχtŕ'') had existed before the Norman Conquest. The feminine version is Roberta. The Italian, Portuguese, and Spanish form is Roberto. Robert is also a common name in many Germanic languages, including English, German, Dutch, Norwegian, Swedish, Scots, Danish, and Icelandic. It can be use ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CBS News
CBS News is the news division of the American television and radio service CBS. CBS News television programs include the ''CBS Evening News'', ''CBS Mornings'', news magazine programs '' CBS News Sunday Morning'', '' 60 Minutes'', and '' 48 Hours'', and Sunday morning political affairs program ''Face the Nation''. CBS News Radio produces hourly newscasts for hundreds of radio stations, and also oversees CBS News podcasts like '' The Takeout Podcast''. CBS News also operates a 24-hour digital news network. Up until April 2021, the president and senior executive producer of CBS News was Susan Zirinsky, who assumed the role on March 1, 2019. Zirinsky, the first female president of the network's news division, was announced as the choice to replace David Rhodes on January 6, 2019. The announcement came amid news that Rhodes would step down as president of CBS News "amid falling ratings and the fallout from revelations from an investigation into sexual misconduct allegations" ag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Susan McDougal
Susan Carol McDougal (née Henley; born 1955) is a real estate investor who served prison time as a result of the Whitewater controversy. Her refusal to answer "three questions" for a grand jury, on whether President Bill Clinton lied in his testimony during her Whitewater trial, led her to receive a jail sentence of 18 months for contempt of court. That made up most of the total 22 months she spent incarcerated. She received a full presidential pardon from Clinton in the final hours of his presidency in 2001. Early life McDougal was born as Susan Carol Henley in Heidelberg, West Germany, the daughter of James B. Henley and Laurette (Mathieu) Henley. In 1976, Susan married Jim McDougal. The McDougals were partners with President Bill Clinton and Hillary Clinton in the failed Whitewater controversy real estate venture in the 1980s. McDougal separated from her husband in the late 1980s and moved to Los Angeles, California. There, from 1989 to 1992, she worked in Los Angeles as a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chief Executive Officer
A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially an independent legal entity such as a company or nonprofit institution. CEOs find roles in a range of organizations, including public and private corporations, non-profit organizations and even some government organizations (notably state-owned enterprises). The CEO of a corporation or company typically reports to the board of directors and is charged with maximizing the value of the business, which may include maximizing the share price, market share, revenues or another element. In the non-profit and government sector, CEOs typically aim at achieving outcomes related to the organization's mission, usually provided by legislation. CEOs are also frequently assigned the role of main manager of the organization and the highest-ranking offic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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