Word: costly
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Dates: during 1980-1989
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...Wall removed the Lincoln investigation from the bank board's San Francisco office to Washington, postponing the closing of the savings and loan by two years. That delay will add $1.3 billion to the taxpayers' cost of repaying depositors and unloading Lincoln's washed-out investments. "My responsibility was to see that this was not a lynch mob after Keating," Wall explained to TIME last week. "The San Francisco office has a history of being hysterical, overzealous, swept away by smoke where there is no gun." Yet ; Wall's Washington audit eventually confirmed San Francisco's warning to the Senators...
...across the Wall, the difference between the strong West German mark and the virtually worthless East German mark will create a powerful black market. Beyond that, East Germany will need Western help to revive its Rust Bowl of antiquated factories. West Berlin's Economic Research Institute says it will cost $250 billion just to bring the country's hopelessly outmoded communications system up to Western standards. Upgrading roads and rails could cost as much or more...
...cars this fall feature aerodynamic design, quick acceleration and two interchangeable engines. They are also about six inches long and cost ten bucks...
...substitute, Mitchell offered a 9.9% cost of living raise for Senators on Jan. 1. That will put Senate salaries at $98,400 next year, temporarily greater than those in the House. In exchange, the limit on honorariums was trimmed to $26,568 from $35,800, so Senators' potential incomes were left virtually unchanged. When the larger congressional pay hike takes effect in 1991, Senators would be paid less than members of the House. While Congressmen must return to their districts to convince skeptical constituents of the wisdom of their actions, Senators have decided that the appearance of virtue...
...exemption through donations was the basis on which American museums grew, and now it is all but gone, with predictably catastrophic results for the future. Nor can living artists afford to give their work to U.S. museums, since all the tax relief they get from such generosity is the cost of their materials. Thus, in a historic fit of legislative folly, the Government began to starve its museums just at the moment when the art market began to paralyze them. It bales out incompetent savings-and-loan businesses but leaves in the lurch one of the real successes of American...