Word: loan
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...housing market's foundation is solid. On the supply side, the inventory of houses for sale is lean and buildable lots in desirable neighborhoods are scarce. On the demand side, an increase in immigration, the coming of age of baby-boomer children, and affordable-loan programs for low-income families are fueling the market for starter homes. Boomers are in their prime earning years and are eager to move up to larger digs or acquire a vacation home. And best of all, interest rates are low. "We've looked at the bubble question, and we've concluded that...
...drop in existing-home sales came just after homebuilding companies like Toll Brothers and Ryland saw their stocks sag for the first time in a year. But keep in mind that contractors and banks became more cautious about overbuilding after they were scorched in the savings-and-loan fiasco of the late...
...former workers have been protesting daily, demanding that the government get them their lost wages. The scandal has exposed many of the country's banks and made them nervous about new investments. Gdynia is accused of no wrongdoing, but the Pekao bank in early July withheld a loan from the yard, threatening its ability to compete for new contracts. Gdynia has said it may have to lay off workers...
...EXPLANATION] The White House says there is a big difference between Bush's loans, which were a common practice, and gross abuses like WorldCom's $400 million insider loan to CEO Bernard Ebbers...
WHAT BUSH AND CHENEY DID While BUSH was on Harken Energy's board of directors and a member of its audit committee, the company hid losses by selling a subsidiary to itself. Harken officers bought Aloha Petroleum with a loan from the company. Harken labeled the sale a $7.9 million profit, shrinking its losses to just $3.3 million for the year. The SEC forced the company to restate its losses to $12.6 million...