Word: loaned
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Dates: during 1980-1989
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...controls must still be approved by the Brazilian Congress. Meanwhile, Brazil is seeking a "bridge loan" from the U.S. for $3.5 billion...
...Just take the savings and loan thing, which I know something about. The absence of a strong spirit of professionalism and independence in the Home Loan Bank System and in the FSLIC ((which insures S and L depositors)) certainly had something to do with the weaknesses of the supervision and the regulatory effort. You can argue that's all great -- that we gave the S and Ls all this opportunity to go out and do it in the interest of entrepreneurship and a bright new financial world. But I think we've lost a little sense of balance. Hey, look...
...children live in poverty. While there was a legitimate need to increase defense resources, the Administration tolerated such sloth that blatant waste and scams eventually evoked an anti-Pentagon backlash. While Reagan celebrated deregulation as the key to a more creative economy, lax scrutiny of the savings and loan industry contributed to widespread failures that will cost taxpayers tens of billions. Wall Street's obsession with wasteful takeovers diverted resources away from constructive investment, while stagnation in basic research for civilian technology inhibited innovation. Efforts to compete effectively with Japan and other striving industrial rivals suffered accordingly. Looser ethical standards...
...expanding leisure industry. Seiji's Seibu Saison Group is branching out into hotels and what he calls the "comprehensive life-style" business. He wants customers at his stores to be able to buy a traveling bag, put it to use by booking a package tour, and take out a loan to pay for the journey. Yoshiaki has his own growth plans: he is looking at the expanding market in cable television and optical-fiber communications, in addition to more familiar resort-development projects at home and abroad. As they cross each ^ other's lines, will one brother decline to book...
There is a growing awareness among Western leaders of the need for workable solutions. French President Francois Mitterrand has suggested allowing an organization like the International Monetary Fund to buy depreciated Latin debt and accept interest payments in line with the loans' discounted value. Author John Kenneth Galbraith and Harvard economist Jeffrey Sachs call for the Latin Americans to declare moratoriums on their current interest payments and pay only as much as they can afford. For some nations the plan would be tantamount to debt forgiveness, which would force banks to write off the loan- loss reserves they have...