Savings and Loan Association organization
also: savings and loans, Houston bank, Dallas Savings and Loan, savings and loan
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Related entities (most co-mentioned)
Ed McBurneyperson · 10Western Savingsorganization · 6San Joaquin Savingsorganization · 4George Aubinperson · 3Jarrett Woodperson · 3Thomas Gobertperson · 3Iran-Contra affairevent · 3CIAintelligence service · 3John Kellyperson · 3Joseph Grovesperson · 3Ransom Aircraftorganization · 2Sandia Federal Savings and Loanorganization · 2Vernon Savingsorganization · 2Carol Kellyperson · 2Lamar Savingsorganization · 2Response Airorganization · 2John Riddleperson · 2Delta Air Linesorganization · 1Charles Keatingperson · 1William Caseyperson · 1Herman Beebeperson · 1United Statescountry · 1Louisianacountry · 1Adnan Khashoggiperson · 1
Claims (10)
Sandia Federal Savings and Loan financed_via
Savings and Loan Association documented
“in Vernon loans for Sandia stock were later refinanced at Sunbelt Savings, which bumped them up to $19 million, giving the investors $3 million pocket change. Sandia was heavily involved in deals and lending to Texas companies connected to …”
▶ The Colonel's Corner Mafia, CIA, & George Bush Part 17 @ 34:37
Savings and Loan Association sued
Ransom Aircraft documented
“The very next lien filed in the state records was a consignment of these parts to Response Air at Richard Scobar Air Force Base with a joint venture of Ransom and Sunbelt. So this document ties all of those together. Less than two years lat…”
▶ The Colonel’s Corner-Mafia, CIA, and George Bush Part 16 @ 8:38
Savings and Loan Association sued
Response Air documented
“The very next lien filed in the state records was a consignment of these parts to Response Air at Richard Scobar Air Force Base with a joint venture of Ransom and Sunbelt. So this document ties all of those together. Less than two years lat…”
▶ The Colonel’s Corner-Mafia, CIA, and George Bush Part 16 @ 8:38
Ed McBurney headed
Savings and Loan Association documented
“other insolvent Texas savings in load, including Jarrett Wood Western Savings at a bailout cost to you and I of estimated $2 to $3 billion. That's a lot. Sunbelt Savings, known in the industry as Gun Belt Savings, was controlled by Ed McBur…”
▶ The Colonel’s Corner-Mafia, CIA, and George Bush Part 16 @ 11:04
Continental Savings bought_from
Savings and Loan Association documented
“Bebe told him that Beausier didn't have the cash on hand to make the loan. But that wasn't a problem. Not for a mobster. Beausier got the cash by selling participation in a few loans on the books to Carol Kelly at Continental Savings. And w…”
▶ The Colonel’s Corner-Mafia, CIA, and George Bush Part 16 @ 14:01
Savings and Loan Association loaned_to
Ransom Aircraft documented
“Smalley was acquitted after his attorney, Richard Racehorse Haynes, convinced the jury that his client had been entrapped by the government. In the fall of 1983, Sunbelt Savings Associate of Dallas made a loan to Ransom Aircraft, secured by…”
▶ The Colonel’s Corner-Mafia, CIA, and George Bush Part 16 @ 7:38
Savings and Loan Association exposed
John Riddle documented
“from Western Savings in Dallas, controlled by Auburn's childhood friend, Jarrett Wood. In 1990, Sunbelt Savings, which had taken over Western Savings, was awarded $284 million in damages in a federal lawsuit against Riddle and his partner, …”
▶ The Colonel’s Corner-Mafia, CIA & George Bush Part 11 @ 27:59
Savings and Loan Association financed_via
Doug Jaffe documented
“borrowed $13 million on an apartment complex in Austin from McBurney's Sunbelt Savings. Jaffe and his partner, Bob Goodson, defaulted on that loan and then sued Sunbelt's federal receiver to keep the savings and loan from foreclosing on the…”
▶ The Colonels Corner Mafia, CIA and George Bush Part 21 @ 9:43
Richard Ross Miller investigated
Savings and Loan Association documented
“One federal investigator who was trying to track the loans, Richard Ross Miller, got from Hill Financial Savings that he had previously worked on the Butcher Brothers bank scandal in Tennessee. So he had experience in tracking this money. B…”
▶ The Colonel’s Corner-Mafia, CIA, and George Bush Part 16 @ 14:58
Henry Gonzalez covered_up
Savings and Loan Association host_asserted
“many of which were just as bad, if not worse. The only failed Texas savings and loan that got any attention from Gonzalez was Sunbelt. There was no mention of Jaffe's loan. Perhaps that's because Gonzalez, considered to be a fierce and ecce…”
▶ The Colonels Corner Mafia, CIA and George Bush Part 21 @ 10:42
Mentions (35)
▶ 7:38
Smalley was acquitted after his attorney, Richard Racehorse Haynes, convinced the jury that his client had been entrapped by the government. In the fall of 1983, Sunbelt Savings Associate of Dallas made a loan to Ransom Aircraft, secured by…
▶ 8:38
The very next lien filed in the state records was a consignment of these parts to Response Air at Richard Scobar Air Force Base with a joint venture of Ransom and Sunbelt. So this document ties all of those together. Less than two years lat…
▶ 9:08
Documents in the lawsuit state that the DC-8 parts, which included 21 Pratt & Whitney jet engines, were purchased from Delta Airlines. The parts were listed on Delta's books at a value of $23 million, according to the lawsuit. It also state…
▶ 9:37
Sunbelt ultimately received a court judgment against Response Air for the $1.5 million, but it was unable to connect. Now, again, just anecdotal information. These Pratt & Whitney jet engines were required because the old DC-8s met no FAA s…
▶ 10:34
And the savings in loan actually lent the $20 million that was recorded in the Texas lien records. None of the money lent on the aircraft parts was repaid to Sunbelt, which finally failed in 1986. Or excuse me, 1986. Under the weight of the…
▶ 11:04
other insolvent Texas savings in load, including Jarrett Wood Western Savings at a bailout cost to you and I of estimated $2 to $3 billion. That's a lot. Sunbelt Savings, known in the industry as Gun Belt Savings, was controlled by Ed McBur…
▶ 12:03
A mutual association of theirs, John Roberts, a San Antonio developer, purchased Commerce Savings in Angleton, Texas from Jarrett Woods. McBurney and Auburn split a $300,000 commission on the sale. Then McBurney would go on to help Woods ge…
▶ 12:33
Roberts, as noted earlier, was involved in the huge deals in Houston and Colorado with weapons trafficker Aiden Khashoggi. In 1983, McBurney had control of Sunbelt and Woods had control of Western Savings. The two began making multi-million…
▶ 13:33
McBurney also had several direct dealings with mobster Bebe. One was just a straight loan to McBurney on an apartment project in Dallas. Another one was something completely different. McBurney wanted Sunbelt to buy an airplane for his use,…
▶ 14:01
Bebe told him that Beausier didn't have the cash on hand to make the loan. But that wasn't a problem. Not for a mobster. Beausier got the cash by selling participation in a few loans on the books to Carol Kelly at Continental Savings. And w…
▶ 14:31
So this round robin exchange meant the money to buy Sunbelt's plane for McBurney ultimately came from Sunbelt itself. This is a good example of the way the savings and loan operated and would serve as a warning to investigators that unless …
▶ 14:58
One federal investigator who was trying to track the loans, Richard Ross Miller, got from Hill Financial Savings that he had previously worked on the Butcher Brothers bank scandal in Tennessee. So he had experience in tracking this money. B…
▶ 15:30
and Response Air for the $20 million aircraft parts. Savings and loan in Texas during the 1980s made lots of unusual loans, most of them not allowed. But the Sunbelt loan on the new and used DC parts appeared very unique. The DC-8, like the…
▶ 8:43
the Khashoggi business partner who had bought the savings and loan from Jarrett Woods and Woods' brother-in-law, Thomas Perry. They, in turn, were assisted in the sale by Ed McBurney. Woods then bought Western Savings in Dallas while McBurn…
▶ 9:43
borrowed $13 million on an apartment complex in Austin from McBurney's Sunbelt Savings. Jaffe and his partner, Bob Goodson, defaulted on that loan and then sued Sunbelt's federal receiver to keep the savings and loan from foreclosing on the…
▶ 10:13
Sunbelt loans takes an added significance when U.S. Congressman Henry Gonzalez, a Democrat from San Antonio, is factored in because Gonzalez was head of the House Banking Committee. He did an admirable job of putting the public spotlight on…
▶ 28:02
was reportedly introduced to Sunrise by Laddie Howard, who had worked at Mainland Savings and Lamar Savings in Austin before heading over to Sunrise's Houston office. Howard had borrowed $150,000 from Sunbelt Savings in Dallas to buy the st…
▶ 10:10
That's next to the famous Calumet Farm. And according to a $120 million lawsuit filed against Aubin in 1990 by Sunbelt Savings, Aubin fraudulently used $14 million loan from Western Savings in Dallas owned by his buddy, Jarrett Woods, to bu…
▶ 24:07
But there were many people lined up to buy these assets, and some of that did happen through front companies. Russo and his affiliated entities also borrowed tens of millions of dollars from five exceedingly dirty Texas savings and loan. La…
▶ 27:59
from Western Savings in Dallas, controlled by Auburn's childhood friend, Jarrett Wood. In 1990, Sunbelt Savings, which had taken over Western Savings, was awarded $284 million in damages in a federal lawsuit against Riddle and his partner, …
▶ 35:40
Letter from Kelly and Wiley stated that the Savings and Loan Association stockholders or managers, we have experienced a great deal of change in our industry. Yeah, the entire freaking thing was taken over by the mafia and the CIA. Wiley an…
▶ 36:11
Actually, it was a planning session for how to continue the fraud. It went on to say, we would like very much for you to attend. We think it's mandatory that a high-level executive from your organization attend, even if you can't make it. L…
▶ 38:19
He was the Louisiana Agricultural Commissioner. He was serving time for extortion and bribery. He was going to testify against the mafia, this entire Iran-Contra failed savings and loan, all of this shit. President Reagan was asked by CIA D…
▶ 40:02
one of the biggest borrowers at BB Controlled Savings and Loan, and one of the biggest private donors to the Contras. So he wasn't privately donating. He was borrowing this money laundered money through the savings and loans in these, remem…
▶ 40:28
And then they got to decide who got the loans on that deposited buddy. So he was taking out massive amounts of that money because they designated him as the guy to get the loans and then quote unquote privately donating to the Contras. He w…
▶ 34:07
bought control of telecom with a $6 million loan from Sunbelt Savings. He moved the company to Dallas and placed Delwin Morton on his board along with Joseph Gross, the San Joaquino executive who had worked for the Golets. In 1988, Galbert …
▶ 34:37
in Vernon loans for Sandia stock were later refinanced at Sunbelt Savings, which bumped them up to $19 million, giving the investors $3 million pocket change. Sandia was heavily involved in deals and lending to Texas companies connected to …
▶ 9:10
This loan was made in 1985, the same year that Gobert placed gross on the board of directors of his company, Telecom. Gobert had bought with a loan from Sunbelt Savings. So this is that round robin again. Borrow money from here, put it in h…
▶ 9:35
deposits, and then you dictate where that money goes after that to your mobster and CIA buddies. Another loan, $76 million to a partnership led by Sunbelt Savings Chairman Ed McBurney. The 1985 federal examination report stated that $21.5 m…
▶ 10:05
A 1988 lawsuit filed against McBurney and other Sunbelt insiders state that Gross handled these loans for San Joaquino. On the flip side, Gross received seven loans from Sunbelt totaling $21 million himself. This is money laundering. San Jo…
▶ 10:33
These savings and loans included Sunbelt, Independent American, Lincoln, Western, and Vernon. Grosses Southmark Funding purchased and sold loan participations to and from a number of savings and loans, including Sunbelt, Lincoln, Western, V…
▶ 56:57
You have to understand that those banking scandals that happen like the savings and loan and all of that at the end of the 80s. Basically, what we have found out is that a lot of these people with these faint businesses were put on the boar…
▶ 57:29
but this is how they did it. You would have Texas businessmen that five of them would sit on the board of the Houston one, five different ones would sit on the board of Dallas and five different ones. So there's a total of 15 of them. Then …
▶ 57:58
And then the Dallas Savings and Loan would make unsecured loans to the directors of the other two. And then San Antonio did the same thing. And so basically, they milked all of the money out of the savings and loans in non-secured loans. No…
▶ 58:54
The Reagan administration delayed the bailout until after Bush was elected in 1988. This raised the cost of the bailout from $20 billion to $1.4 trillion. So we not only got our personal savings stolen, they took $1.4 trillion of our taxes …