MDC Holdings organization
also: MDC
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Related entities (most co-mentioned)
Silverado Savings and Loanorganization · 14Dale Bellema Companyorganization · 6Larry Mizelperson · 4Imperial Savingsorganization · 3Norman Brownsteinperson · 3San Joaquin Savingsorganization · 3Michael Milkenperson · 3Lincoln Savingsorganization · 3Larry Meiselperson · 2Neil Bushperson · 2House Banking Committeeorganization · 2Charles Keatingperson · 2Golay Familyfamily · 1Brownstein Hyatt Fawber and Maddenorganization · 1Aquestorganization · 1MDC Silveradoorganization · 1Ellison Starnes Jr.person · 1Austin Savings and Loanorganization · 1Drexel Burnhamorganization · 1Robert Corsonperson · 1Bill Waltersperson · 1San Jacinto Savingsorganization · 1Bruce Ritterperson · 1Southmarkorganization · 1
Claims (11)
Norman Brownstein member_of
MDC Holdings documented
“Brownstein, who will be discussed in a later chapter on the Silverado savings, was a member of the board of directors of MDC Holdings for almost 10 years. Brownstein's Denver law firm, Brownstein, Hyatt, Fawber, and Madden performed legal w…”
▶ The Colonel's Corner Mafia, CIA, & George Bush Part 17 @ 52:35
San Joaquin Savings financed_via
MDC Holdings documented
“There was a number of savings and a number of loans and sales between San Joaquino and Larry Mizzell's MDC Holdings. San Joaquino made at least four loans to MDC, totaling $14 million. In 86, Southmark was going to sell J.M. Peters Company,…”
▶ The Colonel’s Corner Mafia, CIA & George Bush Part 18 @ 14:53
MDC Holdings laundered_money_for
Silverado Savings and Loan documented
“and San Joaquino, Lincoln, and Silverado, which of course is where Neil Bush lived, was on the board. MDC first told the author of this book that it had never borrowed any money from Silverado and had never engaged in any deals with Neil Bu…”
▶ The Colonel’s Corner Mafia, CIA & George Bush Part 18 @ 15:51
MDC Holdings financed_via
Silverado Savings and Loan documented
“The author that MDC never borrowed any money from Silverado in a statement submitted to the House and Banking Committee, MDC admitted borrowing some $20 million from Silverado secured by mortgages receivables. It also stated that it signed …”
▶ The Colonel’s Corner Mafia, CIA & George Bush Part 18 @ 49:25
MDC Holdings sold_property_to
Neil Bush documented
“In a March 1st, 1990 statement to the Houston Post and the reporter that wrote this book, Kostra said that MDC had never had a business relationship with Neil Bush. Then in March 5th, Kostra wrote to the author saying, while the company has…”
▶ The Colonel’s Corner Mafia, CIA & George Bush Part 18 @ 52:10
MDC Holdings member_of
Dale Bellema Company documented
“arranged the deal with Corson. Bellarmine's only other Houston area land deal got its partner, MDC Holdings, into trouble with Security and Exchange Commission because MDC Holdings is a large Denver-based home builder and residential develo…”
▶ The Colonel's Corner Mafia, CIA, & George Bush Part 17 @ 25:49
MDC Holdings funded
Silverado Savings and Loan documented
“by using Silverado Savings as a middleman, where Neil Bush is. In June of 1986, MDC sold the Houston lots to Silverado Venture Limited, a joint venture between Silverado and some other Denver investors. The deed from MDC to Silverado showed…”
▶ The Colonel's Corner Mafia, CIA, & George Bush Part 17 @ 28:19
Larry Mizel financed_via
MDC Holdings documented
“with a little more than 10%. Tamco, too, still owned approximately 10%. Then in October, the stock market crashed, sending Imperial's price to $7.50 a share compared to double that before the crash. Things weren't looking too good for First…”
▶ The Colonel's Corner Mafia, CIA, & George Bush Part 17 @ 50:10
MDC Holdings financed_via
Drexel Burnham documented
“MDC raised more than $700 million from Drexel Burnham's junk bonds. On November 9th, 87, MDC announced that it had purchased a little more than a million shares of Imperial and about 7% of the total. Imperial stock price jumped 15% on the n…”
▶ The Colonel's Corner Mafia, CIA, & George Bush Part 17 @ 50:40
MDC Holdings financed_via
Imperial Savings documented
“MDC raised more than $700 million from Drexel Burnham's junk bonds. On November 9th, 87, MDC announced that it had purchased a little more than a million shares of Imperial and about 7% of the total. Imperial stock price jumped 15% on the n…”
▶ The Colonel's Corner Mafia, CIA, & George Bush Part 17 @ 50:40
Larry Mizel headed
MDC Holdings host_asserted
“Lincoln involved in a daisy chain set up with Larry Missile's MDC Holdings, Silverado Savings, and San Joaquino Savings.…”
▶ Colonels Corner_ Mafia, CIA & GHWB Part 1 @ 32:37
Mentions (25)
▶ 32:37
Lincoln involved in a daisy chain set up with Larry Missile's MDC Holdings, Silverado Savings, and San Joaquino Savings. And he lent more than $30 million. Bridget, are you ready for this? He lent $30 million to Father Ritter's.…
▶ 25:49
arranged the deal with Corson. Bellarmine's only other Houston area land deal got its partner, MDC Holdings, into trouble with Security and Exchange Commission because MDC Holdings is a large Denver-based home builder and residential develo…
▶ 26:20
Charles Keating's Lincoln Savings and San Joaquino Savings and Silverado, where we found Neil Bush on the board of directors. The Houston deal occurred in January 1986. MDC bought Wood Brothers Homes, a home builder that was spun off of Cit…
▶ 27:18
and book a profit. At the same time, Bellema owned a large undeveloped residential property where? Castle Rock, Colorado, which is just south of Denver. Castle Rock, to which it was trying to attract home builders. Somehow the two companies…
▶ 27:52
and MDC would get the 60 acres in Castle Rock. Although Bellarmine booked the deal as a straight swap and recorded no profit or loss, MDC booked a profit and was called up on the carpet by the SEC. As an examination of the Houston transacti…
▶ 28:19
by using Silverado Savings as a middleman, where Neil Bush is. In June of 1986, MDC sold the Houston lots to Silverado Venture Limited, a joint venture between Silverado and some other Denver investors. The deed from MDC to Silverado showed…
▶ 28:51
MDC didn't file a deed of trust in the Harris County records, which would have made it much more difficult to foreclose on the property if Silverado defaulted on it. That omission indicated there was something else going on. That something …
▶ 29:19
No promissory note referenced, nor was a deed of trust filed, which is totally illegal here in Florida. In addition, the vendor's lien, a mortgage, in the deed was marked out, and there was no reference to the $3 million mortgage. MDC offic…
▶ 29:49
because of the related Castle Rock deal. However, they did not admit that the sale to Silverado and its subsequent sale to Bellarmine was part of a swap. According to SEC attorneys, Silverado officials said they would not have taken part of…
▶ 50:10
with a little more than 10%. Tamco, too, still owned approximately 10%. Then in October, the stock market crashed, sending Imperial's price to $7.50 a share compared to double that before the crash. Things weren't looking too good for First…
▶ 50:40
MDC raised more than $700 million from Drexel Burnham's junk bonds. On November 9th, 87, MDC announced that it had purchased a little more than a million shares of Imperial and about 7% of the total. Imperial stock price jumped 15% on the n…
▶ 51:08
Two weeks later, it announced that it had upped its share another 10% and petitioned the SEC for approval to buy a total of 25%. The stock continued to climb back. In June, MDC withdrew its request from the SEC to purchase the total 25% of …
▶ 51:40
advertised as a nominal gain, but they listed no dollar price. The speculation was that MDC had been bought in a straw man scenario to jack up the stock price. It is not surprising that MDC would become involved in the Golett's imperial, gi…
▶ 52:35
Brownstein, who will be discussed in a later chapter on the Silverado savings, was a member of the board of directors of MDC Holdings for almost 10 years. Brownstein's Denver law firm, Brownstein, Hyatt, Fawber, and Madden performed legal w…
▶ 53:59
Another junk bond savings and loan Brownstein lobbied for was Lincoln Savings, controlled by Charles Keating, who raised the money to buy Lincoln from Milken. Brownstein first met Keating in the 70s when his name appears in Keating's diarie…
▶ 14:53
There was a number of savings and a number of loans and sales between San Joaquino and Larry Mizzell's MDC Holdings. San Joaquino made at least four loans to MDC, totaling $14 million. In 86, Southmark was going to sell J.M. Peters Company,…
▶ 15:22
MDC sold all of the assets that it had in the oil and gas subsidiary to Southmark and in turn acquired residential property in Virginia with an option to buy more property in California. In September of 88, a Dallas savings and loan regulat…
▶ 15:51
and San Joaquino, Lincoln, and Silverado, which of course is where Neil Bush lived, was on the board. MDC first told the author of this book that it had never borrowed any money from Silverado and had never engaged in any deals with Neil Bu…
▶ 48:56
After approving loans, money laundering for the CIA, helping his dad fund the Contras as the vice president. The company that did most business with Silverado was Larry Meisel's MDC Holdings, whose loan sales and purchases from and to the D…
▶ 49:25
The author that MDC never borrowed any money from Silverado in a statement submitted to the House and Banking Committee, MDC admitted borrowing some $20 million from Silverado secured by mortgages receivables. It also stated that it signed …
▶ 49:55
and never obtained commercial real estate financing from Silverado Bank. Silverado Bank never loaned money to MDC to purchase property from a third party, they stated. Then two sentences later, in the same statement, it contradicted what it…
▶ 50:23
So it had, in fact, did business with them, even though they just stated they had not. So in total, MDC admitted to borrowing $53 million after saying they didn't. MDC might not think that they were a major borrower, but there is little dou…
▶ 51:04
There was a major sell by MDC of some $208 million in mortgage loans to Silverado. These mortgage loans were, the company itself admitted in an SEC filing, non-conforming loans, meaning they were bad loans. They bought bad loans. MDC also s…
▶ 51:36
On the other side of the ledger, MDC bought $6 million in Silverado's preferred stock in 84 and $14 million in subordinate notes in 1986. So they were all over Silverado. Also, in the statement to the House Banking Committee, MDC whined abo…
▶ 1:05:50
And the CIA. She's marrying the governor of New York. Okay. One of the key figures in the middle of the big Silverado borrowers from Denver was an attorney, Norman Brownstein. Not only did Brownstein was heavily involved with Mitzel and MDC…