Through The Nineties
In the early 1990s, Guterman rebounded from his financial troubles and founded Patriot American Investors. Guterman negotiated and directed the largest direct purchase of office buildings and hotels in the history of the Resolution Trust Corporation and its successor, the Federal Deposit Insurance Corporation (FDIC). The Patriot deal drew criticism from congress in a report that called the RTC model for disposing of savings and loan properties in bulk "wasteful" and "uncompetitive." Further, the report criticized the RTC for negotiating with Guterman while he was under investigation, though it was also noted that Guterman had been falsely accused and that all charges had been dismissed.
Read more about this topic: Gerald Guterman
Famous quotes containing the word nineties:
“All through the nineties I met people. Crowds of people. Met and met and met, until it seemed that people were born and hastily grew up, just to be met.”
—Carolyn Wells (1862–1942)