Word: depositer
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...Saranow and his personal lawyer, Richard Trattner, a former IRS employee, carried out an unauthorized "amnesty" program for Trattner's tax-evading clients. For years, Trattner supplied the IRS with anonymous, remedial tax payments from the clients, as well as keys to hidden safe-deposit boxes containing the unfiled tax returns of the cheaters. The purpose: to reduce the culpability of Trattner's clients in case they were investigated. If that happened, Trattner would steer the IRS to the tax returns as evidence of his client's participation...
...minimum-purchase requirement for T-bills can buy longer-term Treasury notes and bonds in face amounts of $1,000 and $5,000. Such securities mature in two to 30 years and can pay more than 9% interest, which often exceeds the rates paid by bank certificates of deposit...
...title, "How to Profit from a World on the Brink," suggests several interesting possibilities: a) starting a financial newsletter; b) playing host to an investment conference and bringing in dueling newsletter editors for entertainment; c) before you subscribe or attend, locking up all your money in a certificate of deposit at 10%; or -- and we have to admit we like this one best, diversification being a very big idea in the investment world -- d) all of the above...
...unprecedented and ominous size as Government regulators seize insolvent savings and loan associations and commercial banks. President Bush's plan to bail out the S & L industry, which won Senate approval last week by a vote of 91 to 8 and now faces House consideration, calls for the Federal Deposit Insurance Corporation to take over some 400 hopelessly ill thrifts and sell off their real estate in the next few years. During this huge liquidation the Government will hawk everything from office towers to condominiums, sewage plants to gravel pits, shopping malls to single-family homes...
Declaring that "goodwill isn't worth doodly-doo," Metzenbaum insisted that S&Ls have at least 1.5 percent in "tangible capital"--cash, stocks and property that could easily be converted to cash and could be seized, in the event of a failure, before turning to government deposit insurance funds...