Word: investors
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Dates: during 1990-1999
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Harvard became an investor in the late 1980s...
...deal with Iran. Since being appointed to the federal bench by Reagan in 1986, Sporkin has made himself a name as a man with little patience for malfeasance by Big Business. "He's a rare judge who is sympathetic to the way the law intersects with consumer interests and investor interests," says consumer activist Ralph Nader. It was Sporkin at his most sulfurous who dismissed the 1990 suit by which Charles Keating tried to regain control of Lincoln Savings & Loan, whose collapse cost taxpayers $2 billion. Bluntly accusing Keating of "looting" Lincoln funds, Sporkin also pointed the finger...
Government sources had hinted for weeks that Zedillo would undertake some strong action to try to rebuild credibility after the peso's disastrous devaluation. That the Zapatistas should be the target was logical: their activity inspired the erosion in investor confidence that ultimately led to financial panic. But Zedillo's evidence for a spreading Zapatista insurrection was sketchy. Arms caches that authorities discovered held little more than a handful of firearms and several dozen grenades...
Mexico is not the only victim of the crisis of confidence. Emerging nations that have been relying on foreign investment to underpin financial reform and build prosperity will have to do with less as a result of the cooling of investor ardor. Argentina, which like Mexico has an overvalued currency and carries substantial foreign debt, has watched $1.8 billion flee the country since the Mexican devaluation, despite firm promises by the government that the Argentine peso will not be devalued. Last year $11 billion flowed into Argentina in direct and indirect investment; this year the amount is expected to drop...
...bankruptcy also spread anxiety far beyond the borders of Orange County. Japanese investors sold off dollars and U.S. securities. Stock and bond prices swung down on Wall Street amid fears that other large municipalities might harbor high-risk investments. In Washington, Federal Reserve chairman Alan Greenspan told Congress that he was closely monitoring the situation in Orange County; meanwhile, the Commodity Futures Trading Commission launched a probe into some of Citron's trades in derivatives, which are volatile securities whose value is pegged to some underlying asset or market and which can magnify an investor's gains or losses...