Word: lender
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Dates: during 1980-1989
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Analysts believe that U.S. banks have made about $1.8 billion worth of loans to Poland. Bank of America is" the biggest U.S. lender, with $175 million of debt outstanding. Other major creditors include five New York City banks: Citicorp, Chase Manhattan, Manufacturers Hanover, Morgan Guaranty and Chemical. Each has loans of more than $75 million with Poland...
Nonetheless, American banks are not Poland's leading creditors. That dubious distinction goes to West German financial institutions, which are owed at least $2.7 billion. The largest single lender is the Bank für Gemeinwirtschaft, with a total of about $310 million in Polish credits outstanding, followed by three other German banks with $180 million or more each. Hans Friderichs, Dresdner Bank's chairman, recently conceded that his bank was setting up a contingency fund against the possible write-off of part of its Polish and other weak loans...
...that makes grown men cry and lose all ambition in life." Nor does it make much nevermind to the people waiting in line at Ralph's Pretty Good Grocery. And obviously they are not overly concerned at Bob's Bank, whose slogan-"Neither a borrower nor a lender be"-would cause terminal heartburn in the boardroom of Chase Manhattan. In fact, the only people feeling the strain are those innocents who tune in National Public Radio's A Prairie Home Companion for the first time and lack directions to visit all their new-heard friends in Lake...
Last year the cost of carrying Tasco's debt load escalated as the company frantically borrowed money from one lender in order to pay off another. At the same time Tasco's hard-pressed farmer customers, equally strapped for cash, began to postpone building plans and cancel orders for hog sheds. With debts of $8.5 million and assets of only $1.2 million, the company filed for bankruptcy last spring and is now in receivership...
...Shared Appreciation Mortgages. Under this program, which was first used in Florida, the borrower can obtain a lower interest rate in exchange for giving the lender a share in the increased value of the house. When the property is sold, normally one-third of the capital gains that have been earned is owed to the bank or savings and loan company that made the loan. If the house is not sold within five years, the property may be appraised and the owner may have to pay the lender one-third of any increased value...