Word: loaned
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Dates: during 1990-1999
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REMEMBER THE GREAT SAVINGS AND loan debacle of the '80s, when Uncle Sam was forced to spend $150 billion to bail out hundreds of thrifts that had made bad loans, largely for bad real estate? Japan, famous for its ability to copy and enlarge upon invention, has an S&L-like banking scandal of even greater proportion--perhaps a trillion dollars' worth. The fiasco is so large it could even disrupt Wall Street, which relies heavily on Japanese money...
...scandal revolves around seven housing-loan companies, or jusen, created in the 1970s to provide loans to home buyers. During the "bubble" years of the late 1980s and early 1990s, these companies lent huge sums, not to home buyers but to shady real estate speculators, many of whom were linked to Japan's tattooed gangsters, the YAKUZA. Just as in the U.S., real estate crashed in Japan, although a bit later, in the early 1990s. Result: the housing-loan companies watched their bad loans rise to at least $77 billion, more than 75% of their total portfolios...
...most concerned about the artwork, since those items are on loan [from the Fogg Art Museum]," Nathans said...
LITTLE ROCK, ARKANSAS: Financier David Hale, who initiated the Whitewater investigation with allegations that President Clinton pressured him to make an illegal loan, was sentenced today to 28 months in prison and directed to repay the government $2.04 million. Hale pled guilty in March 1994 to two felony charges of defrauding the Small Business Administration in order to receive matching federal funds for his investments. Hale has said that in 1986, then Arkansas governor Clinton and his Whitewater partner James McDougal pressured him to make a $300,000 loan to Susan McDougal. At today's sentencing, the federal judge...
...federal loan program has all kinds of bells and whistles," he said. "Now students will not have to sit through this meaningless 45-minute video. We're trying to replace it with something that will make more sense...