Word: borrowings
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...fear was magnified last week when the Congressional Budget Office predicted that the fund, which contains only $8.5 billion to cover $2 trillion in deposits, could run dry by the end of the year because the recession has aggravated the cost of bank failures. The FDIC may need to borrow $11 billion from the Treasury to keep from going broke, the CBO predicted. The House Budget Committee further undermined confidence in the FDIC by criticizing its 1988 rescue of First Republic Bank of Dallas, charging that "preposterous tax breaks" could double the original cost estimates of more than $2 billion...
...there is still no will in the capital to make hard economic decisions. "How do they ever expect our kids to pay that $3.3 trillion debt?" worries Tom Tenner, a retired appliance-company executive in Houston. "No one seems to care or give a damn. They feel we can borrow forever." Still, the capital is not immune to the jitters. Washington caterers say that guest lists are smaller and there are more lunches than dinners, more wine than champagne. "It's chic to be prudent," says Michelle McQuaid of Ridgewell's Caterers. "Being rich...
...copy," says the state's head archivist, Harry Whipkey. Next-door Delaware can't provide a copy either; like Maryland, Delaware returned its version to the Federal Government after the Bill of Rights' ratification. So Philadelphia officials are now contemplating crossing the Delaware to see if they can borrow New Jersey's original for the festivities...
King Kong was roaring after last week's announcement. Matsushita has some $16 billion in cash but plans to borrow much of the MCA purchase cost, which leaves the company with cash to buy up more properties at distressed prices. Said David Geffen, the music mogul whose 10 million shares of MCA stock were suddenly worth some $660 million, nearly twice their value three months ago: "This will be the most acquisition-minded company in the world...
...plagiarize? Out of some clammy hope for fame, for a grade, for a forlorn fix of approbation. Out of dread of a deadline, or out of sheer neurotic compulsion. Plagiarism is a specialized mystery. Or the mystery may be writing itself. Many people cannot manage it. They borrow. Or they call up a term- paper service...