Word: helded
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Dates: during 1980-1989
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...centerpiece of Beebe's empire was AMI, his company based in Shreveport, La., which invested in banks and thrifts, insurance companies, motels and nursing homes. Beebe and his colleagues at one time or another held control of nearly 40 banks and S & Ls, through which they allegedly made insider "back- scratching" loans to finance one another's high-risk moneymaking schemes. Their tower of debt collapsed in 1986, brought down by the energy bust and tenacious federal investigators. Having pleaded guilty to two counts of fraud in 1988, Beebe, 61, now washes laundry in a federal prison in Texarkana, Texas...
...bankroll everything from polo fields to time-share condos and mini-warehouses. Though a 1987 federal case against Beebe ended in a mistrial, the Government has contended that he was one of his own biggest customers, using the network of banks and thrifts to finance ventures in which he held hidden interests. "He saw the thrifts as one big gold mine, an endless pit of money," says Joseph Cage, a U.S. Attorney in Louisiana who prosecuted Beebe. Rather than exert his ownership outright, Beebe often held control behind the scenes. One of his tactics was to stake friends like...
...loan it made to finance a nursing home from which Beebe allegedly profited. Beebe was sentenced to perform community service, while some of his associates were acquitted. Two years later, the Government accused him of fraud for making loans to a quarter-horse breeder with whom Beebe allegedly held an interest in a tax-shelter scheme. After the 1987 mistrial, Beebe pleaded guilty last year to the two fraud counts...
...intelligence types, the champagne was already flowing. Still, the U.S. has difficult decisions to make in the months ahead, as do the Soviets. In the ten months since the accord was signed in Geneva securing the Soviet withdrawal, the operating word has been "symmetry." Last week the Bush Administration held a one-hour high-level review of U.S. policy toward Afghanistan that resulted in no announced changes. That means that Washington would continue to fund and arm the rebels as long as Moscow supplied Najibullah's forces...
...more difficulty with another Democrat, the late Henry Jackson, than with most Republicans. Likewise, Ronald Reagan's diplomatic appointees encountered more opposition in the Senate Foreign Relations Committee from the G.O.P.'s own Jesse Helms than from the soporifically temperate senior Democrat, Claiborne Pell. In 1985 Helms held up the confirmation of Reagan's Ambassador to China, Winston Lord, for more than three months, preventing him from being at his post when then Vice President George Bush visited Beijing...