Word: loaned
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Dates: during 1990-1999
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...past three years, the state has seen the impeachment of Governor Evan Mecham for misuse of state funds; the arrest of seven legislators on bribery charges; allegations that Arizona's two Senators were involved in the Keating Five influence-peddling scandal; and the conviction of a prominent savings and loan chief on 17 counts of securities fraud. "It seems we have an unlucky star over our heads," said former Governor Bruce Babbitt, the state's cleanest political light. "Now we'd all like it to pass over the horizon...
From Israel's perspective, all of this year's Democratic candidates are "right" on the current litmus test -- Jerusalem's request for $10 billion in U.S. loan guarantees to resettle Soviet Jews. Beyond that touchstone, the contenders' stances fragment. The candidate in the most potential trouble with American Jews is Bob Kerrey, who's "right" now, but who refused to co- sponsor the Senate bill that would have authorized granting the loan guarantees last fall. Kerrey's other problems include his calling Israel's West Bank settlements "provocative" and his insistence that the U.S. embassy remain in Tel Aviv...
Financier Charles Keating's 68th birthday was not an occasion for celebration. Instead, a state-court jury in Los Angeles found the former head of California's Lincoln Savings & Loan, whose company sold $250 million in junk bonds to unwitting investors as it headed toward insolvency, guilty of 17 counts of securities fraud. Keating, whose $1.4 million in political contributions entangled five U.S. Senators in the S&L scandal, faces 10 years in prison and a $250,000 fine. Last month the Senate reprimanded California Senator Alan Cranston for soliciting contributions from Keating while he was ! urging federal regulators...
...small bank allegedly used by the launderers, Heritage Loan and Investment Co., utterly refused to help the feds. But that shouldn't surprise Rhode Islanders. Heritage collapsed earlier this year, taking the state's system of 45 privately insured banks and credit unions with it. The bank's fugitive president, Joseph Mollicone Jr., who is accused of embezzling $13 million, was initially a target of the Polar Cap probe. On the same day last fall that state examiners were inside Heritage reviewing the books, one of Saccoccia's aides turned up at a teller's window with...
...hand and guile to finance deals. Through Headington Investments, a finance company under his control, Maxwell borrowed $100 million from Swiss Bank Corp. last summer to buy the entire First Tokyo portfolio. Maxwell was supposed to turn over the portfolio to Swiss Bank in October as collateral for the loan. But Maxwell did not repay the loan, nor did he deliver the securities as promised. Meanwhile, he had already pledged the assets as collateral for loans made to another Maxwell company. The deal is being investigated by British law- enforcement authorities...