Word: deposit
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Dates: during 1990-1999
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With the release of government documents spelling out the conflict-of- interes t allegations, and reports that the Federal Deposit Insurance Corporation (FDIC) might file a $200 million civil suit against him and the other officers and directors of Denver's Silverado Banking, Savings and Loan Association, Neil Bush replaced Charles Keating as the S&L poster boy. His father interrupted his final press conference at the Houston economic summit to defend the besieged 35-year-old Denver businessman. "What father wouldn't express a certain confidence in the honor of his son?" asked the President as his voice cracked...
...Federal Deposit Insurance Corporation helped fuel the comeback by pumping in $5 billion to recapitalize three major banks, while two others were shored up by acquisition. "Houston deflated so sharply there was nowhere to go but up," says Barton Smith, a University of Houston economist. Low-energy prices forced the oil industry to reduce its reliance on such traditional businesses as exploration and production, while investing more heavily in refining and petrochemical manufacturing, which can earn greater profits...
...month savers, 6.54% is a perfectly respectable rate of interest. The Amex plan is laudably efficient. Amex is already sending millions and millions of monthly bills and reply envelopes, already processing payments; millions of us are already having to pay those bills. Combining a savings deposit with the payment costs Amex next to nothing and saves us time, a check and a stamp...
...gone beyond talk. Last month the three-year-old grandson of onetime Noriega crony Marcos Justines was kidnaped and killed. In charge of military finances for the Noriega regime, Justines is jailed in Panama City, charged with stealing $47 million from the National Bank and $33 million from safe-deposit boxes on Dec. 20, the day the U.S. invaded Panama. There have been unconfirmed reports that he has agreed to testify against his former boss. Late last month Panamanian authorities arrested two Noriega loyalists suspected of having planned the kidnaping. Says a Justice Department investigator: "This is bound to have...
Robb suggested several specific reforms, including changes in the federal deposit insurance system, which was created by President Franklin D. Roosevelt '04. Robb said the government should lower the level of protection for individual bank accounts, and stop protecting multiple deposits by a single depositor...