Word: bankrupts
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Dates: during 1980-1989
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Under Secretary of Treasury for Finance. One out of every six savings and loans has gone bankrupt, and the Treasury Under Secretary will have to concoct a plan to raise $60 billion to bail them out. In his spare time he will oversee the so-called Baker Plan for easing the Third World debt crisis and coordinate efforts to steady the unstable dollar...
Federal regulators are bound to fight the defection in order to discourage other healthy S and Ls from attempting to follow suit. A mass desertion could bankrupt the FSLIC fund and saddle taxpayers with the expected $50 billion to $100 billion bill for rescuing the savings industry...
Despite the efforts of Tampa Bay Bandits' owner John Bassett, the league went ahead with the planned move away from spring football despite the added burden of the bankrupt Los Angeles franchise abandoned by Oldenburg. The USFL didn't take long to sink after the league's failed lawsuit attempt against...
...greatest incentive for investors to buy large bankrupt S and Ls is that the Government will often promise to reimburse the new owners for any existing loans that are not repaid. Reason: the Federal Savings and Loan Insurance Corporation, a Bank Board unit that insures S and L deposits, would soon run out of money if it simply shut down the troubled giants. Paying off all American Savings' F.S.L.I.C.-insured depositors would have cost an estimated $4 billion to $5 billion, twice the price tag for last week's rescue. Thus the Bank Board must find buyers for the distressed...
...European alliance is the denuclearization, leading to the neutralization, of Europe. This is a traditional Soviet objective. But ironically it may prove necessary for the success of perestroika. It may be, as the dissident writer Vladimir Bukovsky suggests, that the only way for the Soviets ultimately to salvage their bankrupt system is by neutralizing Europe and harnessing its energy, technology and vast wealth -- not by occupation but by the domination that would follow a detachment of Europe from...