Word: loaned
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Dates: during 1990-1999
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...members of minority groups routinely victimized by a deep-set bias in mortgage lending? They have long suspected so, and now they have a persuasive piece of evidence. In a study of 6.4 million loan applications at 9,300 lending institutions, the Federal Reserve Board found that blacks were turned down for loans twice as often as whites. Of 19 cities studied, Boston had the highest rejection rate for blacks: 34.9%, vs. 11% for whites. Houston had the highest rejection rate for Hispanics: 25.7%, vs. 13% for whites. The refusals were unbalanced for even government-backed mortgages, which require...
...that only makes us need the wind-fall even more. Most of us are struggling to finance our college education. Tuition rises every year, and government assistance decreases. As each semester goes by, we sign away more and more of our future to loan officers working in this country's failing banking system. Lamar Alexander is no Ed McMahon, and President Bush is not going to show up on any student's doorstep holding a huge check...
When he came back home, he made himself a millionaire in the restaurant business. He's not a lawyer or a banker. There's no Chappaquidick, no Silverado Savings and Loan, no Anita Hill. He did let Debra Winger sleep over at the mansion when he was governor and drive around in state cars (certainly a bad judgment call), but Nebraskans didn't say much--they thought she was cool...
Shearson took a direct hit in its real estate business, as did many financial firms. Shearson's Balcor subsidiary suffered $200 million in loan losses, and was liquidated by the company in 1990. Amex had done even worse in the insurance business after buying Fireman's Fund, which suffered heavy underwriting losses. In 1986 Amex sold the company, but only after pumping more than $400 million into the business. American Express suffered both scandal and loss at its Boston Co. unit, a money-management firm that was discovered to have improperly overstated its 1988 earnings by $30 million...
According to James S. Miller, Harvard director of financial aid, the Direct Loan Program would save the federal government "a significant amount of money" that could be applied to grants...