Word: loaned
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Dates: during 1980-1989
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...waves of anxiety from Ohio's savings-and-loan panic started to calm down last week, members of the banking community desperately hoped for a respite from further turmoil. But they did not get it. Another bout of uneasiness hit the financial industry, this time inspired partly by the plight of Texas banks laden with bad loans in energy and real estate. Meanwhile, everyone from divorce lawyers to the FBI was busily looking for culprits in the failure of Home State Savings, the Cincinnati thrift whose sudden collapse last month touched off a minor financial panic. The scare forced Governor...
...University only formed its Advisory Committee on Shareholder Responsibility when it needed to take the heat off after hundreds of Black students, objecting to Harvard's investments in Gulf Oil's South Africa holdings, took over University Hall in 1972. The ban on investments in banks that loan directly to the South African government closely followed the resurgence of anti-apartheid student activities in 1979. And when the University casually tried to retract that ban on loans to the pariah state, an overflow crowd of 400 students at an open meeting in 1982 denounced the move and stopped Harvard...
alternative scheme for student loan allocation, she blamed the administration's over-spending on defense and short-sightedness for student and cuts and other social dilemmas...
Celeste also jetted to Washington to get help from federal banking authorities. Edwin Gray, chairman of the Federal Home Loan Bank Board, which oversees the FSLIC, promised Celeste "an unprecedented, superhuman effort" to complete the paperwork necessary to bring as many as possible of the closed Ohio thrifts under federal insurance. Fed Chairman Volcker also pledged support. Said he: "The job now is to get the institutions opened rapidly and in an orderly fashion so that we don't have a repetition of the situation...
...interest rates they could pay depositors. Now bankers have much more freedom to pay what they wish, and competition has pushed rates up. That in turn has led the S and Ls to make riskier investments to cover the handsome payouts. In the past, thrifts generally limited their loan business to home mortgages. Now many have plunged into higher-yielding but more dangerous ventures, ranging from office-building construction to securities deals with traders like E.S.M. "It's harder to make a profit," says Robert Seaton, president of Cleveland's Cardinal Federal Savings & Loan. "Therefore institutions are doing things they...