Word: lents
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...Calvi was buying up Ambrosiano stock, possibly using money borrowed on international financial markets by Ambrosiano and its subsidiaries, in an attempt to strengthen his grip on the parent bank. During 1978-79 and in 1981, Ambrosiano and its subsidiaries raised about $1.2 billion. In these years the banks lent at least $800 million to low-capitalized shell companies in Panama, Luxembourg and Liechtenstein. The shell companies, in turn, used about $400 million to buy stock in Banco Ambrosiano and other securities. All or part of yet another $400 million appears to have been funneled through these same companies...
...I.O.R. five days before the letters of patronage were issued. The liberating letter in effect negates the letters of patronage and relieves the Vatican bank of any responsibility for the companies in question. Yet this letter was never made known to the Ambrosiano Latin American banks that lent money to Calvi's shell firms. The liberating letter thus gives the arrangement between Calvi and the I.O.R. the appearance of a conspiracy to withhold essential information from the lending banks. The various letters suggest that Marcinkus allowed the Vatican's name to be used in a questionable...
Republican Norman Lent of New York was promised that the A-10 Thunderbolt II attack plane, made on Long Island, would not be phased out as planned if he voted for the tax bill. Lent "agonized," then supported the President. Said one White House aide: "This has been the biggest shopping spree we've gone through...
...time, American and European bankers are worried about the heavy loans made to Rumania, East Germany and Hungary. Eastern European satellite countries now owe Western bankers and governments $60 billion, and those countries are strapped just to make the interest payments on the debt. illions of dollars have been lent to troublesome credit risks in Latin America like Mexico, Brazil and Argentina. All together, this debt to U.S. banks now totals $62 billion. Warns one top Chase Manhattan banker: "If Latin America goes into default, it will bring down all the major banks in this country...
Argentina is basically a rich country, but mismanagement by an inept government brought on economic chaos. Capital, lent in a businesslike manner, can put Argentina back on its feet...