Word: loaned
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Dates: during 1980-1989
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...Nobody thought Dale would do things like that," said a farmer who knew Burr. "He was quiet, didn't smoke or drink, didn't socialize much. His life was his wife and that farm of his." But Burr felt overwhelmed by his debts: in addition to the Hills Bank loans, he owed $139,900 to another bank and nearly $10,000 to his brother-in-law Forbes. Nevertheless, with his land alone worth about $2,000 an acre, his farm still had enough value to protect him from foreclosure. "Burr was not destitute," Neil Milner of the Iowa Bankers Association...
...their case against a group of alleged mobsters last week. In a federal courtroom in Kansas City, Roy Williams, the ailing former president of the Teamsters Union, admitted something that many investigators have claimed for years: the Teamsters' central states pension fund was long tapped by gangsters for huge loans to conduct their shadowy business. Suffering from emphysema and clutching an oxygen bottle, Williams, 70, was testifying in the trial of nine alleged Mafia leaders from Chicago, Cleveland, Milwaukee and Kansas City. They are charged with a conspiracy to skim some $2 million in profits from the Stardust and Fremont...
...pension fund trustee, Williams said, he helped arrange the casino loan for the late Nick Civella, boss of the Kansas City Mafia for about 30 years. In return, Civella paid him $1,500 a month until Williams was elected Teamsters president in 1981. Although Williams said he did favors for Civella at the direction of his "superiors," including the late Teamsters Bosses Jimmy Hoffa and Frank Fitzsimmons, he described Civella, who died of lung cancer in 1983, as "a very personal friend." Civella, said Williams, "was a deep thinker. He assisted me in my career, and I provided some help...
...Wolanin said, if Congress decides the $11 billion price tag is too much to pay annually, grants, not loans, will be cut. He said the government guarantees such loans to banks far in advance, and thus cannot retrospectively vote to cut loan allotments...
...October fell by 10.1%, as compared with the same period last year. During September, more than 800,000 Americans rushed to buy cars because of the special 7.7% and 7.5% financing offered by the major carmakers. The lower interest rate saved a consumer $1,056 on a four-year loan for an $11,000 car. But once the offers expired at the beginning of the month, sales stalled dramatically...