Word: bonding
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...Government is obliged to spend $40 billion to cover bailout cases to which federal regulators are already committed, including 205 savings and loans that the Government closed or sold last year. The $50 billion bond issue would be spent to liquidate or auction off the remaining 300 or more insolvent savings and loans. Those failing thrifts will be isolated from the rest of the industry by bringing them under a new agency called the Resolution Trust Corp., which will oversee their cleanup...
...when Bush ran unsuccessfully for Congress, Baker's first wife, Mary Stuart, was an around-the-clock volunteer. Later, when Mary Stuart lay dying of cancer in 1970, George and Barbara Bush spent hours at the hospital. Says Vic Gold: "There is just no way to exaggerate the bond created during a crisis like that...
...Connor, an official of a carpenters' union local in Manhattan, in 1986. The alleged motive: O'Connor had trashed a nonunion construction job at a restaurant that the Gambino $ family controlled. "I give you 3-to-1 odds I beat this case," vowed Gotti, before posting a $100,000 bond the next...
...Drexel Burnham Lambert and its junk-bond wizard, Michael Milken, the pretense is over and the divorce begins. In court papers filed last week, it was disclosed that Drexel has agreed to fire Milken and withhold his 1988 bonus, estimated at $200 million. Since the investment firm has already agreed to settle criminal-fraud charges against it for a $650 million penalty, denying Milken his money effectively reduces the fine by more than 30%. Milken's attorney, Martin Flumenbaum, castigated the settlement as a "violation of due process, a punishment without trial." Separate criminal charges against Milken for securities fraud...
...Soviet Union, but is rather supposed to be a native of Romania. But the temptation of using the KGB as an obvious foil to the good American guys seems to have been irresistible, and so we see it re-enacted again. Once more, in the spirit of James Bond and other spy thrillers, we see a plot that rests on the virtues of an East-West conflict...