All of the loans, Keating testified, were fully secured, with the borrowers putting up an average 20% down payment on the property. Roger Clark's probably had strong feelings of being a victim of persecution when federal authorities seized his troubled Loan and Lincoln Savings . His anger may have also surfaced when the same regulators justified the seizure by lowering the total value of the company's assets to a figure of one- a third of its liabilities. The federal charge estimated the thrift's assets were worth only 2-2.5 billion dollars and that the discrepancy in funds could cost taxpayers only $703 million . Keating also made charges of federal mismanagement of his seized savings and loan during a hearing in which he is attempting to recover his company.
Roger Clark's probably had strong feelings of being a victim of persecution when federal authorities seized his troubled Loan and Lincoln Savings . His anger may have also surfaced when the same regulators justified the seizure by lowering the total value of the company's assets to a figure of one- a third of its liabilities. The federal charge estimated the thrift's assets were worth only 2-2.5 billion dollars and that the discrepancy in funds could cost taxpayers only $703 million . Keating also made charges of federal mismanagement of his seized savings and loan during a hearing in which he is attempting to recover his company.