Word: depositing
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Dates: during 1980-1989
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Under this multilayered plan, the Paris bank would set up a corporation for the customer in Rotterdam, where he would deposit his cash in the bank's local branch. The American would control the newly created Dutch corporation through an Antilles trust company, but his identity as the owner would be protected by the island group's impenetrable secrecy laws. The Caribbean branch would then "lend" the American his own money held in Rotterdam...
...initiative--part of a $401 million package of budget cuts and new, non-tax revenues--would have forced the bottling industry to give the state money from unclaimed bottle and can deposits. Currently, companies hold aside deposit money in a separate fund and dole it out to stores when they return the empty containers...
...very sympathetic M. Danny Wall, a former aide to Utah's Republican Senator Jake Garn. Wall transferred responsibility for Lincoln from San Francisco to Washington. At House Banking Committee hearings on Oct. 17, L. William Seidman, head of the Resolution Trust Corp. and chairman of the Federal Deposit Insurance Corporation, criticized Wall for keeping Lincoln open. As a result, the federally guaranteed cost of paying back Lincoln's depositors went up $1.3 billion, to $2.5 billion. Nationwide, the whole debacle of rescuing failing S&Ls will end up costing taxpayers about $300 billion...
Keating is also being sued by Lincoln customers, who claim they came into the bank to make insured deposits but in a classic bait-and-switch were steered into buying uninsured securities issued by ACC to keep the institution afloat. In hearings held by the House Banking Committee, Congresswoman Marcy Kaptur of Ohio read a letter from a 65-year-old man who was persuaded by a Lincoln saleswoman that the ACC bonds were just as safe as insured certificates of deposit, paid a point more in interest, and ran only ten months. "If ACC goes under in ten months...
CHANCE will deposit the scholarship donationsin the Philips Brooks Endowment Fund and, byreinvesting part of the interest, can double thescholarship fund in the next 15 to 20 years, saidDavid E. Rogers '88, development director of thePBHA endowment...