Word: loaned
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Dates: during 1980-1989
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Allison and Supple conceived the community service clearinghouse last spring, after the dean perceived the need for a renewed focus on public service, Supple said. Allison also announced a public service loan forgivenenss program and a summer internship fund last spring...
...asked a federal judge to seize Mob-tied businesses in an attempt to break up the Bonanno crime organization, one of New York's five Mafia families. Among the alleged fronts: three hotels and a taxi company, which officials say were bought with money from the family's gambling, loan-sharking and drug networks. It was the first time a Mafia family has been treated as a legal entity...
...antique, the onetime Treasury Secretary and U.S. energy czar is no Don Quixote of the business world. There is nothing fanciful about his vision of assembling a financial empire in the Pacific Basin. In fact, Simon has helped mold a multibillion-dollar conglomerate that includes the largest savings and loan association in Honolulu and a merchant bank in Los Angeles. Last week an investor group led by Simon agreed to pay $157 million for Western Federal Savings & Loan, the fifth California thrift the group has tried to acquire within a year. Says Simon: "California is the gateway to the dynamic...
...going west with his money. He has taken some high-powered talent with him in the investment partnership known as WSGP International. The head of WSGP's thrift unit is Preston Martin, a former vice chairman of the Federal Reserve Board and onetime chairman of the Federal Home Loan Bank Board. Gerald Parsky, a Los Angeles lawyer who served as Assistant Treasury Secretary under Simon, is his old boss's general partner and contributes his initials to the company's anagrammatic name. A select group of international investors, including Italy's Fiat-making Agnelli family, has pledged $225 million...
...months WSGP has bought up five financial institutions, including Honolulu Federal Savings & Loan (assets: $1.7 billion), Southern California Savings ($1.5 billion) and World Trade Bancorp ($100 million), all for $119 million. The group's method is to look for bargains among sinking thrifts that also possess attractive real estate holdings. Then WSGP strips the institutions of problem loans and injects them with fresh capital, with the aim of selling out at big profits...