Word: loaned
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Dates: during 1990-1999
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...House Whitewater panel played a tape of a conversation in whicha lawyer with the Resolution Trust Corp. seemed to suggest that a staffer alter her report on Madison Guaranty, the failed savings and loan owned by the Clintons' former business partner, for political purposes. Reason: the lawyer said doing so would please RTC head Jack Ryan and other senior officials. "There are answers they would be happier about, you know, because it would get them, you know, off the hook, you know, and that would be about Whitewater." Ratan says: "What the Republicans are trying to show is that where...
...Leach has aggressively challenged theWhite House accountof President and Mrs. Clinton's passive role in the land development scheme. As one Democratic panel member after another angrily protested the proceedings today, three federal regulators charged that top government officials repeatedly thwarted their attempts to investigate the failed savings and loan owned by the Clintons' Whitewater business partner. Resolution Trust Corp. investigator Jean Lewis said she believed "there was a concerted effort to obstruct, hamper and manipulate the results of our investigation."TIME's Suneel Ratannotes that despite "the televised pandemonium, the real impact of the hearings...
RECOVERING. LES PAUL, 80, musician and father of the electric guitar; after collapsing while preparing to travel to a Nashville birthday concert; in Mahwah, New Jersey. OUSTED. G. KIRK RAAB, 59, president and ceo of biotech giant Genentech; following the revelation that he had requested a personal $2 million loan guarantee from Roche Holding Ltd. while negotiating a merger with the firm; in San Francisco. During Raab's five years at Genentech, the company's revenues nearly doubled. But shareholders have been growing restive over earnings and the terms of the Roche deal. Thus the board may have been looking...
...economic output of $77 billion is about the same as Greece's. According to a study, the proposed sales-tax increase of a half-cent per dollar would have cost the average resident only $50 a year while reaping $140 million in tax revenue, enough to procure a new loan to cover the county's maturing obligations...
...point today, in hope that easing borrowing costs might prevent the U.S. from slipping into recession. "They did the bare minimum they could to tell the markets they were concerned," saysTIME's Suneel Ratan. It seems to be working: while at least two major banks reduced their consumer loan rates to 8.75 percent, the Dow Jones Industrial Average surged more than 48 points to close at another record 4,664. But Ratan notes that the markets were counting on the move: "Ordinarily, the impact of Fed cuts is not felt for 16 to 18 months.But longterm interest rates have dropped...