Word: dollars
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Dates: during 1980-1989
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...home. But despite his fondness for the unusual antique, the onetime Treasury Secretary and U.S. energy czar is no Don Quixote of the business world. There is nothing fanciful about his vision of assembling a financial empire in the Pacific Basin. In fact, Simon has helped mold a multibillion-dollar conglomerate that includes the largest savings and loan association in Honolulu and a merchant bank in Los Angeles. Last week an investor group led by Simon agreed to pay $157 million for Western Federal Savings & Loan, the fifth California thrift the group has tried to acquire within a year. Says...
...regulating thrift institutions as an "absolute fraud." Concerned that U.S. funds are insufficient to protect deposits at Texas' 49 insolvent thrifts, Clements contended that the Federal Savings and Loan Insurance Corporation might be able to reimburse depositors in failed institutions to the tune of only 30 cents on the dollar, along with a Government IOU for the rest. The Governor's remark drew a sharp rebuke from Washington, where thrift regulators rushed to reassure depositors that their money would always be insured for the full $100,000 guaranteed by the FSLIC. "I can't state it emphatically enough, that...
...about 25% from 1980. There were 187 gang-related homicides in 1986, a 24% increase over 1985. So far, this year looks even worse. Drive-by shootings are more common than smog alerts, and the burgeoning trade in crack cocaine has turned gangs from stray hoods into multimillion-dollar enterprises equipped with Uzis and AK-47 assault rifles...
...roller-coaster Mexican economy. Velma Dempsey, who has lived in Chapala for 17 years, recalls visiting a bank in 1982 to transfer her life savings from the U.S. Perturbed by the slow-moving line, she went home, planning to return the next day. Overnight, the government expropriated all dollar savings, compensating depositors with pesos. Sighs Dempsey: "I was never so grateful for inefficiency...
...snow-capped Wheeler Peak has long been a regional attraction. Visitors began arriving in 1885, after Rancher Absalom Lehman discovered vast limestone caves in the neighboring foothills. Swinging a sledgehammer to cut paths through forests of stalactites and stalagmites, Lehman then led candlelight tours through the caves for a dollar a head. After President Warren G. Harding declared the caves a national monument in 1922, Manager Clarence Rhodes rented them out for weddings, dances and initiation ceremonies for the Knights of Pythias, who frolicked in clouds of sulfurous smoke wearing costumes...