Word: loaned
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Dates: during 1980-1989
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...exchange for providing the low-interest loan, the financing authority is requiring HRE to keep one-quarter of the apartments in the building under rent control during the 15 years it will take to pay back the mortgage...
Charles Knapp, whose passion for vintage planes and daredevil business tactics earned him the nickname Red Baron, bailed out last week as chairman of California's troubled Financial Corp. of America (assets: $32.7 billion). The company is the parent of American Savings and Loan Association, the nation's largest thrift institution. Knapp says that he resigned voluntarily, but many industry observers believe he was pressured to leave by the Federal Home Loan Bank Board, which regulates S and Ls. Knapp's biggest mistake was to make too many fixed-rate loans that became unprofitable when interest rates...
...that Geraldine Ferraro is Caesar's wife. There was the illegal campaign loan, the murky Centre Street deal, the questionable exemption from disclosing her husband's finances. But she insists that she thought the loan was legal, that she did not know about the deal, and that no wife could satisfy the disclosure law who did not have a good-government partition in her refrigerator...
...Sept. 1 Ferraro duly reported these loans to the Federal Election Commission. She was quickly told by the FEC that using a family loan for her campaign was illegal. Like any prospective contributor, each member of her family could give only $1,000. Ferraro was advised that she would face hefty fines if the violation continued, so she scrambled to repay the loans...
Even though she had substantial assets of her own (her net worth at the time was about $500,000), the banks, she says, would not give her a loan unless her husband co-signed it. The FEC, of course, would not permit Zaccaro to do that, since he was one of the family members she was trying to repay. The only option, she says, was to put some of her property on the block. "We've got to sell fast," she told her husband, alluding to her half-ownership of one building and a half-interest in a mortgage...