Word: lasts
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Dates: during 1980-1989
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Riegle, meanwhile, had to confess to several meetings with Keating that he forgot to tell the Senate ethics committee about until it came out in congressional testimony. One was a helicopter tour of Keating's real estate empire in 1987. Cranston's political future darkened during congressional hearings last week when some of his California constituents blamed "Cranston's corruption" for the loss of their savings...
...Last week the spotlight also fell on M. Danny Wall, picked by the White House in July 1987 to replace Edwin Gray as chairman of the Federal Home Loan Bank Board. Gray, a onetime captive of the savings and loan industry, lost his job when he began to speak out about the extent of the S & L fraud...
...postponing the closing of the savings and loan by two years. That delay will add $1.3 billion to the taxpayers' cost of repaying depositors and unloading Lincoln's washed-out investments. "My responsibility was to see that this was not a lynch mob after Keating," Wall explained to TIME last week. "The San Francisco office has a history of being hysterical, overzealous, swept away by smoke where there is no gun." Yet ; Wall's Washington audit eventually confirmed San Francisco's warning to the Senators that Lincoln was a "ticking time bomb." Wall's auditors discovered a whole ticking arsenal...
Wall will defend himself this week before the House Banking Committee. But its chairman, Henry Gonzalez, has already called for his resignation. Last week even George Bush left Wall to twist in the wind: "If part of the savings and loan problem proves to be management or regulation people that aren't aggressive enough, would ((I)) make a change? . . . The answer...
Once a month this fall, natural disasters have devastated widely scattered parts of the U.S. In September Hurricane Hugo slammed into the Carolina coast; October brought the San Francisco Bay earthquake. Last week the furies returned in a burst of tornadoes. Frigid air howled out of the Arctic to collide with record balmy weather pushing northward from the Atlantic and Gulf of Mexico. The unseasonable clash generated a hopscotching barrage of twisters through 14 states from Arkansas to New York that killed at least 30 people. Though the storms were briefer than Hugo, the whirling winds were stronger than...