Word: lenders
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Dates: during 1980-1989
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...since the Depression. But the FSLIC cannot survive many more weeks like last week, when it provided more than $1 billion to the Federal Home Loan Bank of Dallas. The Dallas bank had made loans, which the FSLIC had guaranteed, to ailing savings institutions in the Southwest. When the lender had to set aside more collateral for the loans, the FSLIC had to come up with the shortfall...
...Japan. It was viewed as a source of 15- to 20- year development loans, while the International Monetary Fund was created simultaneously to provide short-term lending to countries suffering from balance of payments problems. Since World War II, though, the World Bank has * evolved from a long-term lender for Third World public works to a technocratic antipoverty institution with some 6,000 employees...
...African officials spoke earnestly about the need for their continent's people to "pull themselves up by their own bootstraps." Western officials spoke approvingly of Africa's new maturity, its emerging can-do spirit. During the special five-day session of the General Assembly, representatives of both borrower and lender nations heralded an agenda to tackle Africa's Herculean economic, agricultural, ecological and growth problems. Even the Reagan Administration, often critical of what it sees as misguided African policies, joined in the cheering, speaking of a "stronger partnership with Africa based on shared ideals...
...swift growth has come largely through acquisitions. Last year, for example, GM bought Norwest Mortgage of Minneapolis and Philadelphia's Colonial Mortgage group for $335 million. That made GMAC the nation's second-largest mortgage lender, with $22 billion in commercial and home loans on its books. Also in 1985, Chrysler acquired E.F. Hutton's commercial lending subsidiary for $125 million, and Ford paid $493 million for San Francisco-based First Nationwide Financial Corp., the holding company for the eighth-largest savings and loan...
...City's reluctant Scrooge is Arnold Thomas, 32, who heads the local office of the Farmers Home Administration. He has the unpleasant duty, as the agent of the Federal Government's lender of last resort, to foreclose on farmers who cannot keep up their debt payments. After a two-year moratorium on foreclosures, Thomas is now sending out letters politely advising farmers on how to avoid default through loan reschedulings, reamortization, even voluntary liquidation. "It bothers me to foreclose," says Thomas. "If it didn't, you wouldn't be human. I try to leave my job at the office. Otherwise...