Word: largest
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Dates: during 1980-1989
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...going on in this state," he said. "It's called greed." No wonder. Fed by three successive drawings that failed to produce a big winner, New York's lottery jackpot had ballooned to a record $22.1 million, the highest ever in North America. (The world's largest: Spain's El Gordo, "the Fat One," which in 1983 amassed a $73 million pot.) In the final days before the drawing, tickets for the outsize prize were selling at the frenzied rate of a million an hour...
...games seem to have something for everyone: jackpots for the winners, commissions for the ticket sellers, and a politically safe way for legislators to raise revenue without raising taxes. In most states, lottery proceeds are channeled directly into the general fund. Typically, the largest share goes for education. Ohio's Democratic Governor, Richard Celeste, for example, last week endorsed a bill that would earmark lottery profits for schools...
...authorities have expropriated about 150,000 acres of land belonging to the cocaine mafia. A March 10 raid uncovered one of the largest cocaine-processing operations in the world: a modern complex 430 miles southeast of Bogotá that boasted 19 laboratories, where a thousand workers produced an estimated 25 tons of cocaine a month. The plant's 13.8 tons of cocaine represented roughly one-fifth of U.S. yearly consumption (estimated street price: $1.2 billion). When the police dumped it into the nearby Yari River, the waters ran white with foam...
...Chicago, the harried Continental Illinois Bank had to dip deep into the largest rescue fund ever arranged for a U.S. lender. In Washington, D.C., World Bank officials warned that the latest jump in American interest rates will add $1.25 billion a year to the Third World's already crushing debt. In Paris, European moneymen lashed out at rising U.S. borrowing costs. On both sides of the Atlantic last week, such concerns were sending shock waves through the money world. Said Bank Analyst Stephen Berman of L.F. Rothschild, Unterberg, Towbin: "The U.S. banking system is suffering from a crisis...
...most visible trouble spot was Continental Illinois, the seventh-largest U.S. bank. Aggressive lending to energy firms and other ailing borrowers has filled its books with $2.3 billion in sour loans. After rumors that the bank was about to fail led to a run on the Chicago lender, Morgan Guaranty and 15 other big banks last week rushed to Continental's rescue with a $4.5 billion line of credit, the largest ever for an American bank. Its goal: to help avert what threatened to become the biggest collapse in U.S. banking history...