Word: default
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...reversing college costs or addressing the drug crisis. It would also ignore the fact that Bennett led the administration's dangerous policy of attempting to cut student aid and shift the burden from grants to loans, which most experts agree is the real reason for today's record default rates. And despite all of Bennett's bluster, Congress consistently refused to go along with his requests for cuts, leaving him with a record of few substantive accomplishments...
Unconcerned by such questions, Graf blew through the tournament. The always formidable challenge of a semi-final appointment with Evert evaporated when the American caught a stomach flu and had to default. Then came the meeting with Sabatini, who had beaten Graf twice so far this year -- the only person to do so. But not this time. Graf was uneven -- "In the second set, I was not so tough" -- but finished overwhelmingly. When the Open was finally closed, Graf had lost just 23 games in six matches. That was all the more restful for Graf, who is off to Seoul...
...major difficulties all its own. Chief among them is the seemingly never ending saga of Third World debt. The ten largest banks have more than $50 billion on loan to developing countries. This sum amounts to roughly 100% of their shareholders' equity; if all the loans went into default, the banks' capital would be wiped...
...government has got to give a signal that an individual takes a risk using drugs, and that he cannot expect thepublic to subsidize [such use]," said an aide toRep. Thomas Coleman (R-Mo.), who hasunsuccessfully sought to insert an anti-drugstipulation into a House bill on GuaranteedStudent Loan default...
...Securities: "It's almost like a game of chicken. Nobody wants to be the first to give in." Even the two separate federal regulatory agencies that oversee the markets are at a standoff. If any new safeguards need to be imposed, Congress may have to take the initiative by default...