Word: loaned
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Dates: during 1980-1989
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Most mainstream economists, however, remain convinced that the budget dilemma will not go away. "At some point down the road, these deficits are going to haunt us," says Kenneth Mayland, chief economist of the First Pennsylvania Bank. As the economy expands, rising loan' demands by businesses will collide with Government borrowing. The eventual result, says Economist Henry Kaufman, partner in the Salomon Brothers investment house, could be "an explosion in interest rates." If rates rise, federal borrowing costs will go up and so will the deficit. Thus, many economists argue, large deficits and high interest rates feed each other...
...member of the Brown Brothers Harriman banking firm: "There is no reason for panic. First Chicago has a problem, but it's solvable." Still, investors and depositors could not help being startled. Experts had assumed that the economic recovery would already have eased the problem of bad loans. But First Chicago's setback from lending in energy and agriculture demonstrates that some industries lag behind. Said a Chicago financial-industry analyst: "This shows how fragile the banking situation is." First Chicago took its write-off at the urging of examiners from the Comptroller of the Currency...
...Royals even before his replacement was found: Steve Balboni, who in 122 games hit 27 homers and struck out 136 times. Another motley find was Darryl Motley, for whom the Royals had no minor league space last year in Omaha, so the Tigers graciously put him up on loan in Evansville. He batted nearly .290 for Kansas City, with 15 home runs. With Dan Quisenberry-that remarkable pitcher-in the bullpen, the Royals need only stay close...
...financiers arriving in Washington for this week's joint annual meeting of the World Bank and the International Monetary Fund were in an upbeat mood. Gone was the near panic that swept the same meeting in 1982 after Mexico declared that it could not make its loan payments on schedule. Now the bankers and ministers share a growing optimism about the health of the world economy...
When Charles Knapp bailed out last month as chairman of struggling Financial Corp. of America, a soft landing seemed likely. Last week it was learned that Knapp, whose high-risk growth strategy for the California-based savings and loan left the thrift holding too many unprofitable fixed-rate loans, had managed to secure a golden parachute from Financial Corp.'s board of directors in the form of a severance payment worth $2 million...