Word: junking
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Dates: during 1990-1999
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...much time should America's most famous Wall Street criminal spend in the slammer? Junk-bond king Michael Milken, who is scheduled to be sentenced Oct. 1, could get up to 28 years. He has already been punished financially: last April, when Milken reached an agreement with prosecutors to plead guilty to six of the 98 counts of securities fraud and other crimes leveled against him, he was ordered to pay $200 million in fines and $400 million in restitution. Scores of Milken's friends -- and a smattering of his foes -- have deluged New York Federal District Court Judge Kimba...
...ever been in where almost everyone you meet on the street considers himself a comedian -- a fact brought home to me a couple of years ago when a panhandler near my subway stop said to me, "Can you spare some change? I'd like to buy a few junk bonds.") In the matter of contentiousness, I once tried to indicate the difference between New York and the Midwest, where I grew up, by saying that in the Midwest if you approach someone who is operating a retail business and ask him if he has change for a quarter...
Wilson, a tall, lanky scholar with a disarmingly casual manner, responded with dismay. He argued forcefully that many critics did not bother to read all of Sociobiology, which did not junk free will and environmental influences but only modified them. "On the basis of objective evidence," he wrote, "the truth appears to lie somewhere in between, closer to the environmentalist than to the genetic pole...
...deep slump could inflict heavy damage on overleveraged companies and troubled banks whose books are already filled with junk bonds and sour real estate loans. According to Veribanc, a Massachusetts-based firm that rates banks and S&Ls, bad loans at U.S. banks rose a sharp 7.5%, to $48.6 billion, in the first quarter of 1990. Overall, nearly 1,400 banks, or about 11% of the U.S. total, lost money in the first quarter. That represented an alarming jump of nearly 20% over the same period a year...
...need for cash infusions, the RTC has begun to speed up the pace. Last week Seidman announced the details of a "fall inventory-reduction sale," in which the agency will unload shuttered thrifts and seized assets by the end of the year. Up for grabs will be everything from junk bonds to golf courses to shopping malls. The $50 billion asset sell-off will refuel the bailout process, but it will take its toll on the U.S. by depressing, to some extent, an already weak real estate market in many parts of the country. And taxpayers will be stuck...