Word: loaned
(lookup in dictionary)
(lookup stats)
Dates: during 1990-1999
Sort By: most recent first
(reverse)
...first major U.S. city to go to the verge of fiscal collapse since Boston hit the skids in 1980. Plagued with rising needs, a shriveled treasury, dubious credit and ineffectual leaders, Philadelphia last week was sliding toward budgetary disaster. What may have been its last hope, a big new loan guarantee from the Swiss Bank Corp. fizzled at midweek, prompting two Wall Street credit-rating agencies to lower Philadelphia's bond rating and making the 308-year-old metropolis a prime candidate for insolvency unless it can raise $400 million by the end of September...
...revenues, a sagging business economy and the loss of federal revenue-sharing funds have pushed the city to the brink. Says Jay Abrams, a vice president at the Wall Street credit-rating firm Standard & Poor's: "Philadelphia has dug itself into a great big hole." Would even a big loan ward off bankruptcy at this point? Says city controller Jonathan Saidel: "It's just a quick fix, a bid to buy time...
First it was $100 billion, then $200 billion, $500 billion, and now it's $1 trillion or more. As estimates of the cost mounted for the bailout of the savings and loan industry, a taxpayer's only consolation was that at least commercial banks were safe and sound. Or were they? The way things are going, the Federal Deposit Insurance Corporation, which insures commercial bank deposits, may have to be renamed the Future Disaster Inevitable Corporation. In grim testimony before the House Banking Committee last week, Comptroller General Charles Bowsher warned, "Not since it was born in the Great Depression...
...Saud to create a modern state almost overnight and, in the process, buy the continued fealty of its subjects. First-class medical care is free. So is education from kindergarten to postgraduate levels. Each Saudi family receives 750 sq. yds. of free land and a 30-year interest-free loan of $80,000 to build a house on it. Entrepreneurs get huge interest-free loans to start businesses. And no one pays taxes. "A Saudi," King Fahd noted recently, "has to be very unlucky, very stupid and very lazy not to do well...
...pushing to clean up the savings and loan mess, have federal regulators acted too hastily in declaring some thrifts insolvent? A federal judge in Topeka thinks so in at least one case. Last week he ordered the Office of Thrift Supervision to return control of an S&L to its original owners on the ground that the agency used "arbitrary and capricious" accounting methods to justify seizing the thrift, Franklin Savings (assets: $9.3 billion) of Ottawa, Kans...