Word: loaned
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...still have a house, and you still a mortgage to pay. Back in Depression-times, mortgages were often callable. If the lender needed its capital back, it could force you to pay off your loan. But we don't do that anymore with mortgages (for good reason...
That could happen. But another possibility is that loan losses will continue to grow to the point that the core institutions of the American financial scene - Citigroup, JPMorgan Chase and Bank of America in particular, but also possibly Goldman Sachs and Morgan Stanley - are seen as endangered. Then we'll really get to see what a bailout looks like...
...focus now is on the insurance giant AIG, where fears are that losses in real estate investments will spark a credit-rating downgrade that could lead to the firm's unraveling. On Sunday AIG reportedly asked the Federal Reserve for a $40 billion bridge loan to tide it over. On Monday the firm initially got a special dispensation from the governor of New York, the state that regulates it, to tap $20 billion in capital from its subsidiaries. Then it paid a visit to the Federal Reserve Bank of New York, where President Tim Geithner turned down its loan request...
...Florida to run a string of branches, he reported to his new job in less than 24 hours. Through a series of purchases made by McColl, NCNB turned into NationsBank, which turned into Bank of America, which in time grew to become the nation's biggest retail bank, home loan provider and credit card issuer...
...Financial Corp. of America declared bankruptcy after a $2 billion federal bailout of its primary subsidiary, the American Savings and Loan Association, during the savings and loan crisis of the late 1980s...