Word: loaned
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Dates: during 1990-1999
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...American savers, already reeling from the savings and loan debacle, the banking crisis has inspired rising anxiety about the safety of their money. In a TIME/CNN poll of 1,000 adults surveyed last week by the firm Yankelovich Clancy Shulman, just 7% said they felt very confident about the soundness of U.S. banks, while 59% said they were only somewhat confident or not confident at all. Bigness is not necessarily reassuring: 52% said they had more faith in local banks than in larger ones, while 36% felt safer with their money in major institutions...
...fighting in the Gulf? I'm not sure, but the crisis came along conveniently in the middle of the Savings and Loan scandal--in which the president's son was emerging as a major figure--at a time when the economy was entering a post-'80s hangover, and at a time when there were calls for deep cuts in the defense budget. What I am sure of is that the war cannot be justified...
...prevent a run on deposits in the wake of the collapse of the private firm that insured them. While such private insurance has become a rarity, the closings aggravated the growing anxiety about the health of the entire financial system, as the U.S., already reeling from the savings and loan debacle, sinks into a new recession...
...biggest risk is the prospect of a widespread bank collapse. The trigger could be a protracted war in the Persian Gulf, which could, in turn, deepen the recession and force debt-laden companies into massive loan defaults. Collapsing banks would aggravate the downward spiral by drying up credit and leaving taxpayers with another painful bailout bill. The disaster scenario may be plausible, but most experts doubt that bank failures will come close to the magnitude of the S&L fiasco, which will cost Americans as much as $1 trillion over the next 30 years. Despite the banking industry's problems...
...vigils around the country. With Jan. 15 approaching, protest organizers are hoping to ignite a bonfire of dissent against any U.S. military action. Said Dennis Murphy, an antiwar demonstrator in Charlotte, N.C.: "These politicians are the people who gave us Vietnam, Watergate, the deficit, the savings and loan crisis, and 'Read my lips.' Are we supposed to stand back and say, 'Oh, go ahead and do what you want to'? Not this time...