Word: bankrupted
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Dates: during 1980-1989
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...from $300 a year to less than $200. Nicaragua faces a balance of payments deficit next year of $450 million. The Sandinistas have been borrowing to the limit from Mexico, the Soviet Union and, most recently, Libya. Says one Western diplomatic observer: "They say no country really ever goes bankrupt, but no country has quite had Nicaragua's experience before...
...Very few Blacks have had access to the education required of industry managers or government administrators. The poverty of now-independent colonies is mute testimony to this point: Botswana, Lesotho, Swaziland, Zambia, Zaire and Angola are among the poorest countries in the world, and many are debt-ridden or bankrupt. As soon as these states became independent, productivity plummeted and industry rumbled to a halt...
...Democratic Senator Patrick Leahy. Casey's hand-picked deputy, Max Hugel, resigned in July amid accusations of past illegal stock manipulation. And Casey is currently under investigation by the Senate Intelligence Committee for his own financial dealings, including his involvement in a New Orleans agricultural firm that went bankrupt. A report due to be released soon will not recommend Casey's ouster, but it will raise a few additional questions that the President's longtime political pal may be called upon to answer before the full committee...
With the capture of Washington-he was, poor chap, taken to London and hanged as a traitor-the rebellion collapsed, and no one else had the stature or the stomach to start it up again. That ancient rogue Benjamin Franklin, who had persuaded King Louis XVI to bankrupt his treasury in the rebel cause, was content to remain in Paris, for instance, chasing young ladies and flying kites in thunderstorms. Thomas Jefferson, the greatest propagandist of the age, also sought refuge in Europe, where he lived with his beautiful black mistress and continued his mischief-making for another 43 years...
...enterprise that cannot afford to borrow and expand and therefore loses market share and stagnates, perhaps eventually being driven out of business altogether by some tough and well-heeled foreign competitor from, say, Japan. Says Purdue University Economist William Dunkelberg, a small-business expert: "For every firm that goes bankrupt, there are another 15 to 20 firms that pay off their debts and just close their doors...