Word: loan
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Dates: during 1960-1969
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Principal problem: how to get rid of Ky's tough but tactless security chief, Brigadier General Nguyen Ngoc Loan, 35, who last month offended the Southerners by nabbing one of their number, and seldom bothers to conceal his contempt for the Southern group as a whole-or any other critics of Ky. Loan, like Ky, is a Northerner who went south after the 1954 partition. The two were fellow pilots in the Vietnamese air force, and when Ky took power last year, he promptly asked Loan to be his director of national security...
...cent profit for their own construction companies. They may also build projects for less than the estimated cost. If the investor defaults, he retains the mortgage money, well-padded over the actual cost of erecting the project. And the FHA must reimburse the bank that advanced the loan for the outstanding debt, then dispose of the building -- often at a loss...
While his northern boss was out of town, Loc fired northern doctors from comfortable Saigon jobs, transferred them to clinics in the interior and gave their places to his southern friends. He did not get away with it. On the orders of National Police Commander General Nguyen Ngoc Loan, a northerner, Loc was arrested, and the battle was on. Infuriated at such highhanded treatment, the southern Cabinet ministers demanded that Ky fire his police chief. Ky refused, but attempted to mollify the southerners by accepting the resignation of Health Minister Nguyen Ba Kha. In response, seven of the 26 members...
...government unity on the eve of the Manila Conference, got them to agree to pocket their resignations for the time being. But the crisis was merely postponed. The southerners have put a price on their continued collaboration with Ky: an end to "northern domination," and the dismissal of General Loan, whose tough tactics, they insist, give the regime "the image of a police state...
Public Bank was set up in 1957 with an eye toward the fast-growing consumer-loan business. In 1965, the bank's stock peaked at $34 a share; at year's end it had $117 million in deposits, ranked 340th among the nation's 14,000 commercial banks. But despite such apparent success, there were signs of shakiness. Its president resigned last December; his successor left a scant two months later. When President James A. McGuire arrived in March, the bank was already in deep trouble...