Word: defaulting
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...Bresman says he has wound up in the government department "by default." He is still approached by undergraduates who remember from the panel...
Then things changed. In May 1993 Perez was impeached for corruption involving the misuse of public funds; he is currently on trial. In early 1993 the economy also took a sharp downturn. The crunch hit hardest at real- estate and construction companies. As they started to default, the banks attempted to compensate by offering sky-high interest rates--up to 18 percentage points above going levels--to attract new depositors and fresh funds. The most aggressive was Banco Latino. Within weeks of Banco Latino's takeover by the government, arrest warrants were issued for 82 of its directors and managers...
...Crimson has learned that information provided for an article in yesterday's paper was in error. Walter S. Nihlan of Belmont was arrested on a default warrant which, according to a spokesperson for the Middlesex County District Attorney's Office, should have been removed. The spokesperson said Nihlan was taken to District Court and released after the arrest. He already had been arrested on these charges in June of 1994. Nihlan is being prosecuted on these charges, but no trial date has been set, the spokesperson said...
...short term, the U.S.-led rescue saved Mexico from defaulting on $26 billion of the government's Tesobonos bonds that come due this year--a disaster that would have driven the vast majority of foreign investors out of the country and much of the rest of Latin America. With the threat of default averted, the Administration argues, Mexico can begin to restore itself to health. Says Treasury Under Secretary Lawrence Summers: ``The success of Mexico's economy now rests on Mexico...
...Corridor Broadcasting Corp., a firm formed by Hill during the 1980s. In 1986 Corridor borrowed $26 million from a Texas savings and loan to buy two TV stations. The thrift later failed and was taken over by the Federal Deposit Insurance Corp. Two years after Corridor's 1991 default, the FDIC sold off the loan for $3.1 million, declaring a $23 million loss to taxpayers in 1993. But in 1994 Hill paid more than $190,000 of Brown's debts, including legal bills and mortgage payments. Legally, Hill had no personal obligation to make good on Corridor's default; politically...