Word: depositer
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...last week, well past the $41.40-per-bbl. peak that it hit in October. Another serious threat is the possibility of a crisis in the U.S. banking system, which is awash in bad loans and increasingly reluctant to lend more money. L. William Seidman, chairman of the Federal Deposit Insurance Corporation, told Congress last week that 1991 is likely to bring the failure of 180 banks with total assets of $70 billion. That would reduce the FDIC fund, which insures bank deposits, from an already weak $9 billion to $4 billion by the end of next year. Seidman urged lawmakers...
Before last week's announcement, one Nobel selection that warmed the Kremlin's heart was that of Mikhail Sholokhov, the court novelist who received the Literature Prize in 1965. He was allowed to go to Stockholm and deposit his check in a bank there. But in 1974 the exiled Solzhenitsyn accused Sholokhov of plagiarism. He claimed Sholokhov had based portions of his epic of the Russian Revolution and civil war, The Quiet Don, on a manuscript written just after World War I by a Cossack, Fyodor Kryukov...
...Republic of Singapore." Daily copies of its Asian edition sold in the bustling Southeast Asian city-state, the piece noted, had already < been cut by official edict from 5,000 to just 400. A new Singapore press law requiring foreign publications to be licensed annually and to post a deposit against legal judgments makes clear that "what the government of Singapore wants is for the foreign press to practice self-censorship," the editorial continued. "We cannot accept the implicit bargain." With that, the newspaper announced that it would no longer sell any copies in Singapore...
...Certainly there was a great failing of the Washington apparatus in the 1980s. But I think, paradoxically, a lot of what happened in the '80s can be blamed on the politicians of the 1930s. When deposit insurance was written into law in '33, it was almost a free ticket. The banking system had been purged of bad loans the old-fashioned way, the weakest banks had long since failed, and the strong banks were barely making...
...reflexive psychology of bankers was that of -- well, bankers were starting at the sight of their own shadows. So deposit insurance could be done painlessly for decades because bankers were too terrified to do anything resembling making a bad loan. It was not until a generational shift occurred in the '70s that bankers prepared to entertain really rank loans. The government had this free ride for a long time. There were hardly any failures because bankers were not lending in such a way as to fail. And now, paradoxically, when the talk is of cutting back on deposit insurance...