Penn Square Bank organization
also: Penn Square Bank of Texas, Penn Square
Explore in graph → Export claims (CSV) ↓
Related entities (most co-mentioned)
Continental National Bankorganization · 3Mario Rendaperson · 3Seattle First Nationalorganization · 2Federal Savings and Loan Insurance Corporationorganization · 2David Rockefellerperson · 1Bossier Bank and Trustorganization · 1Morris Shankerperson · 1Continental Illinois National Bank and Trust Companyorganization · 1Jerry Allenperson · 1Longhorn Oil and Gasorganization · 1Sharpstown State Bankorganization · 1Irvin Spragueperson · 1Operation Gladiooperation · 1Bailoutbook · 1Republican Partyorganization · 1Catholic Churchorganization · 1Herman Beebeperson · 1
Claims (5)
Continental National Bank financed_via
Penn Square Bank documented
“from Continental Bank, which I think you probably mentioned, but this is not Continental Bank of Illinois. This is Continental Savings and Loan of Texas. And the one thing that surprises me in this whole thing is that Continental Bank of Il…”
▶ The Colonel’s Corner The Mafia, CIA&George Bush Part 3 @ 1:02:49
Jerry Allen financed_via
Penn Square Bank book_quoted
“Longhorn Oil and Gas went bankrupt in Oklahoma, owing more than $317 million in debts. A good chunk of that was to Penn Square Bank, whose demise was hastened by loans to these people. Before the bankruptcy, Allen had been the financial co-…”
▶ The Colonels Corner Mafia, CIA&Bush Part 5 @ 56:28
Mario Renda financed_via
Penn Square Bank book_quoted
“were Penn Square Bank in Oklahoma City. Fueled by brokered deposits from Renda and others, Penn Square had engaged in wild lending in the oil patch before expiring in 1982. Even though it was only a $500 million institution, Penn Square had…”
▶ The Colonel’s Corner-The Mafia, CIA & George Bush Part 6 @ 26:17
Morris Shanker financed_via
Penn Square Bank book_quoted
“before a congressional committee about broker deposits, but nothing came of it. And apparently no one attempted to determine if any of the bad loans at Penn Square was linked to Renda's broker deposits. Interestingly, Morris Schenker had a …”
▶ The Colonel’s Corner-The Mafia, CIA & George Bush Part 6 @ 28:16
Bossier Bank and Trust financed_via
Penn Square Bank book_quoted
“before a congressional committee about broker deposits, but nothing came of it. And apparently no one attempted to determine if any of the bad loans at Penn Square was linked to Renda's broker deposits. Interestingly, Morris Schenker had a …”
▶ The Colonel’s Corner-The Mafia, CIA & George Bush Part 6 @ 28:16
Mentions (11)
▶ 56:28
Longhorn Oil and Gas went bankrupt in Oklahoma, owing more than $317 million in debts. A good chunk of that was to Penn Square Bank, whose demise was hastened by loans to these people. Before the bankruptcy, Allen had been the financial co-…
▶ 55:07
And I'm not saying a mirror image. I'm saying something similar to the savings and loans debacle. It was ultimately about the credit crisis that basically did everybody in. The savings and loan debacle, though, started with Penn. I think it…
▶ 1:02:49
from Continental Bank, which I think you probably mentioned, but this is not Continental Bank of Illinois. This is Continental Savings and Loan of Texas. And the one thing that surprises me in this whole thing is that Continental Bank of Il…
▶ 1:03:16
the oil crash causing the SNL crisis. Continental Bank, basically, a new CEO took over after David Kennedy, and they did a whole bunch of oil field loans to Penn Square Bank in the 70s and the 80s, and then they all went bad. And the one th…
▶ 1:03:45
There's not a lot of mentions that Pete Bruton does of Penn Square Bank or Continental, which we know was involved with Vatican Bank and some of the money transfers there for Operation Gladio. And that's the one thing that I find surprising…
▶ 1:04:13
Just put that in context back in the day when no one knew what Operation Gladio was. But as you state, Penn Square Bank does play a part towards the end of the book in this whole round robin. And you're right. And then that ties to Continen…
▶ 26:17
were Penn Square Bank in Oklahoma City. Fueled by brokered deposits from Renda and others, Penn Square had engaged in wild lending in the oil patch before expiring in 1982. Even though it was only a $500 million institution, Penn Square had…
▶ 26:47
two other banks. So way overextended themselves. Two big banks that were nearly brought down by Penn Square's failure was Continental Illinois in Chicago. That's the one Illini and I were talking about in that long conversation the other da…
▶ 27:18
had to be sold to avoid a bailout. The FDIC paid off $218 million in insured deposits at Penn Square, the largest payoff since 1971, when $80 million was required for the failure of Sharpstown State Bank in Houston. This failure was part of…
▶ 27:48
The Sharpsdown scandal. The Penn Square experience, this is a quote, gave us a rough alert to the damage that can be done by brokered deposits funneled through troubled institutions, said the former FDIC chairman, Irvin Sprague, in his book…
▶ 28:16
before a congressional committee about broker deposits, but nothing came of it. And apparently no one attempted to determine if any of the bad loans at Penn Square was linked to Renda's broker deposits. Interestingly, Morris Schenker had a …