Word: loaned
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Dates: during 1980-1989
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WASHINGTON--President Reagan's advisers yesterday recommended curtailing deposit insurance for bank and savings and loan accounts, triggering swift negative reaction from Congress and the Treasury Department...
...report, released by the White House, the Council of Economic Advisers also sharply criticized Reagan-appointed savings and loan regulators for "postponing the day of reckoning" in their rescues of failed institutions...
Liquidating the S&Ls and shutting them down would have required $47 billion in "up-front cash," far more than is available immediately to the Federal Savings and Loan Insurance Corp., Wall said. However, by selling off the property of the failed S&Ls, regulators eventually would have recouped all but $22.8 billion on the December transactions, he said...
...regulator, M. Danny Wall, chairman of the Federal Home Loan Bank Board, defended his agency's year-end spate of savings and loan bailouts as cheaper than shutting down the failed institutions and paying off depositors...
...sets of books: one devised to meet Gramm-Rudman, "which is a useful fiction to give the illusion of progress," and another that shows the real deficit. The real deficit for fiscal 1990 will not be $110 billion but more like $230 billion. Fancy bookkeeping like a $65 billion loan from the Social Security trust fund to the Treasury keeps the total down...