Word: loaned
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Dates: during 1990-1999
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...Government knows, because they know all of our bank accounts, that my family and I probably have no net worth. Period. We're broke. Back in 1983, before I bought Lincoln Savings and Loan, we had a fair market value as a family of many tens of millions of dollars. We produced, we were making money, we had excellent assets. We took a failing S&L, we made $17 million in the partial year we first took it, pretax. We made $100 million the next year. Then the Feds started helping us run it, so we only made $80 some...
...look at the HUD scandal and see whose pocket the money is in. But you can't see any money in the pocket of Edwin Gray, the former Federal Home Loan Bank Board chairman, who fingered you. What's the motive...
...Mortgages are risky too. Let's say you have a billion dollars out in home loans, and the average rate on those home loans is 5%. But then rates go up and you have to pay more to attract deposits. So all of a sudden you're paying out 8%, but you're still catching 5% coming in. That loan's bad right now. You're out of business. There's no way you can ride that...
Could the Bush Administration's savings and loan bailout get any messier? Yes, in ways never imagined. In a surprise court victory last week, the ailing Olympic Federal Savings of Berwyn, Ill., convinced federal Judge Royce Lamberth that the Government's Office of Thrift Supervision currently has no power to seize the S&L. Reason: acting OTS director Salvatore Martoche and his predecessor, M. Danny Wall, were never constitutionally appointed to their posts...
...Greyhound and elsewhere, workers who walk out learn they might not be welcome back. -- Investigators complain that they lack the man power to nab crooked savings and loan executives...