Speaking Personally

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Three Important Stories

Resolution Trust Corporation

Richard Williamson (bishop)

Roger Shimomura | Stereotypes and Admonitions, 2003

Quotes and Pointers

'Multiple Investor Fund (MIF)

Under the MIF Program, the RTC established limited partnerships (each known as a “Multiple Investor Fund” or “MIF”) and selected private sector entities to be the general partner of each MIF. The MIF structure contemplated the following:

• The RTC conveyed to the MIF a portfolio of assets (principally commercial non- and sub-performing mortgage loans) which were described generically, but which had not been identified at the time the MIF general partners were selected. The assets were delivered in separate pools over time, and there were separate closings for each pool.

• The selected general partner paid the RTC for its partnership interest in the assets. The price was determined by the so-called Derived Investment Valueliquidation value of assets based on a valuation formula developed by the RTC), multiplied by a percentage of DIV based on the bid of the selected general partner. The general partner paid its equity share relating to each pool at the closing on the pool. The RTC retained a limited partnership interest in the MIF.

  (“DIV”) of the assets (an estimate of the

• The MIF asset portfolio was leveraged by RTC-provided seller financing. The RTC offered up to 75% seller financing, and one element of the bid was the amount of seller financing required by the bidder. Because of the leverage, the amount required to be paid by the MIF general partner on account of its interest was less than it would have been if the MIF had been an all-equity transaction.

• The MIF general partner, on behalf of the MIF, engaged an asset manager (one or more entities of the MIF general partner team) to manage and liquidate the asset pool. The asset manager was paid a servicing fee out of MIF funds, and used MIF funds to improve, manage and market the assets. The asset manager was responsible for day-to-day management of the MIF, but the general partner controlled major budgetary and liquidation decisions. The RTC had no management role.

• After repayment of the RTC seller financing debt, net cash flow was divided between the RTC (as limited partner) and general partner in accordance with their respective percentage interests (the general partner had at least a 50% interest).

Each of the MIF general partners was a joint venture among an asset manager with experience in managing and liquidating distressed real estate assets, and a capital source. There were two MIF transactions involving over 1000 loans having an aggregate book value of slightly over $2 billion and an aggregate DIV of $982 million .'  http://en.wikipedia.org/wiki/Resolution_Trust_Corporation

'Williamson is viewed as being at the hardline end of the traditionalist spectrum.^[14][15][16] He opposes compromise with the Vatican^[17][18], accusing it of deceit^[19] and of being under "the power of Satan"^[16][20], and judges reconciliation between the Society and the Holy See to be impossible, noting that some SSPX members might refuse to follow the Society even if an agreement were reached.^[21][3][18] Williamson holds that the SSPX is not schismatic but the genuine Roman Catholics that keep the orthodox "complete faith".^{[clarification needed][22][20][23][24]}

Like the SSPX in general, Williamson opposes the changes brought about by the Second Vatican Council, which he sees as liberal, neo-modernist, and destroying the Catholic Church.^[20][23][22] Among the changes he decries are informality and simplicity in worship, preferring "beauty and majesty, beautiful music and vestments." Williamson considers the mainstream Catholic Church after the Second Vatican Council to be too forthcoming of other denominations and religions, viewing Ecumenism an error.^[25][20] He has criticized the theological understanding of both Pope John Paul II, whom he attested a "weak grasp of Catholicism", and Pope Benedict XVI.^[26][15]

Williamson holds strong views regarding gender roles and dress. He opposes the wearing of trousers or shorts by women,^[27][28][29] and has urged more manliness in men.^[28][29]

Williamson supports conspiracy theories regarding the assassination of President Kennedy and the collapse of the Twin Towers, denying that the latter were terrorist attacks but were instead staged by the U.S. government.^[29][3][30]

Williamson has expressed controversial views about Jews. He called Jews "enemies of Christ" and urges their conversion to Catholicism.^[31][32][33] He claims that Jews and Freemasons have contributed to the "changes and corruption" in the Catholic Church^{[34][35][36][31]} He has also stated that Jews aim at world dominion^[3][37] and has endorsed The Protocols of the Elders of Zion.^[3][38] Williamson has denied that he is antisemitic, stating that he goes against "adversaries of Our Lord Jesus Christ", that not all Jews are such, and that he also attacks other other groups such as Communists and Freemasons.^{[3][31][32][16]'}

http://en.wikipedia.org/wiki/Richard_Williamson_(bishop)#Episcopal_succession

'NO THANKS, 2003
Acrylic on canvas, 20 x 24 inches
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Accompanying text:
In March, 1942, as incarceration of over 120,000 Japanese Americans into concentration camps began, the Chancellor at the University of Kansas expressed his support for acceptance of college-aged Japanese Americans into the University. In early April, 1942, the Kansas Board of Regents vetoed the Chancellor's decision, ruling that the University would not accept any Japanese American students.''

http://www.gregkucera.com/shimomura_stereotypes.htm

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Roger Shimomura

 

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