Imperial Savings organization

“Victor Golay took over as chairman and put his associate, Lyman Hamilton, and Alan Tesler on the board. Golay then financed a big chunk of Imperial stock with First Executive Corporation, a California insurance company controlled by Michael…”

“eventually accumulating $1.5 billion, about half of it from Drexel Burnham. This made its junk bond holdings the second largest of SNLs in the country, next to Columbia Savings, which was also controlled by another Milken associate, Thomas …”

“Filipinos out of Los Angeles Chevrolet dealership named Grand Wilshire. As described by a journalist in Barron's Magazine, Imperial had lent $170 million to Grand Wilshire for secured car loans. It was later discovered that many of those lo…”

“Filipinos out of Los Angeles Chevrolet dealership named Grand Wilshire. As described by a journalist in Barron's Magazine, Imperial had lent $170 million to Grand Wilshire for secured car loans. It was later discovered that many of those lo…”

“But before the savings and loan went down, in July of 1989, Alan Tesler was named CEO in an attempt to stop the bleeding. Six months later, he stepped down to be replaced by Lyman Hamilton. In less than two weeks after Hamilton took over, t…”

“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…”