Word: lents
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Dates: during 1980-1989
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...will affect the U.S. economy, and indeed that of the entire world, he is Alan Greenspan, 61. As chairman of the Federal Reserve Board, the soft-spoken economic forecaster is the ultimate arbiter of the nation's credit supply and thus of the interest rates at which money is lent throughout the U.S. banking system. On the job less than three months, Greenspan is suddenly being forced to make rapid and delicate decisions to prevent the market crash from turning into a mushrooming financial collapse and to stave off a steep recession. Says Charles Schultze, who was chairman of President...
Ford was serious about using the family name for worthy causes. After the Detroit race riots in 1967 left 43 dead, Ford headed an effort to find jobs for blacks. He lent his name and money to the building of Detroit's Renaissance Center, a financial flop that lost an estimated $140 million in its first four years and had to be refinanced...
...happened is a typical tale of oil-patch woe. When petroleum prices were high in the late 1970s, First City lent extensively to oil-rig builders and small supply firms. When prices later plunged, loan defaults skyrocketed. First City then boosted its presence in real estate loans -- and that market softened. As foreclosures mounted, First City's management offered Arabian horses, Porsches or 40-ft. yachts to new customers who maintained accounts of $100,000 and up. The gimmicks did not lure enough high rollers to stanch First City's losses, and talk of a takeover, bailout or shutdown mounted...
...public accusations have lent weight to long-circulating rumors. Evidence of extortion, secret arms sales and drug trafficking remains largely circumstantial, encouraged by Noriega's three spacious houses, his art collection and his frequent holidays in France, all of which he enjoys on a military salary...
...Bacharach's songs, built a brand-new bridge connecting gospel urgency to show-tune sophistication. Barbra Streisand moonlighted from Broadway and never went back. The jazz inflections of Nina Simone and Sarah Vaughan enriched the vocabulary of pop. The megaton voices of Jackie DeShannon, Dusty Springfield and Timi Yuro lent powerful shadings to love songs. And the girl groups -- all the -elles and -ettes, the Supremes and Shangri-Las -- kept teen pulses surging to an irresistible beat. It made for a varied, vigorous music, in the golden age of chanteuse...