Word: dollarization
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Dates: during 1980-1989
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...phone now for $40 million, tomorrow I see the $40 million in my pocket. From friends -- Saudi, gulf, Iraqi. That's all like a consortium. I am a front man." He is also a man gifted in the ways of global dealmaking, Swiss bank accounts and multimillion-dollar real estate enterprises in a number of countries, including...
...might be arrested as a spy because he had built a headquarters for a foreign-owned petroleum group. For nearly a decade he moved around the Middle East and Europe, finally settling in London with his wife and three children. Along the way, he picked up a multimillion-dollar fee as a broker in a Saudi crude-oil deal. That was just the beginning of his good fortune...
...chairman, Charles Knapp, furiously pumped up the company's growth with brokered deposits and high-risk loans. When the thrift suffered a run on deposits in 1984, the Federal Home Loan Bank Board seized American and installed fresh management. But the new team gambled and failed in a multibillion-dollar investment in mortgage-backed securities. When the Bank Board went looking for help again, it eventually decided to grant exclusive bargaining rights to the Robert M. Bass Group, which had already taken over such properties as the Westin hotel chain and Bell & Howell...
...will be an equity holder in the private company," Peterson said. And according to figures provided by Harvard Management Partner Scott M. Sperling, Harvard will hold less than 1 percent of RJR-Nabisco because its KKR investment made up less than 1 percent of the multi-billion dollar takeover...
...with the U.S., which now seems stuck at more than $50 billion a year. After shrinking during much of 1988, the trade gap widened significantly last November, leading some economists to conclude that the improvement has at least temporarily stalled. The trade gap has defied such remedies as the dollar's steep two-year decline, which was expected to slow Japanese exports to the U.S. by making them more expensive. One reason for the lack of success is the still considerable U.S. budget deficit (fiscal 1988 total: $155 billion), which overstimulates the American economy and its demand for Japanese products...