Word: loaning
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Alan J. Stone, vice president for government, community and public affairs, saw his salary rise slightly to $267,620. His total $313,549 compensation package included benefits, $13,223 in loan interest subsidies, and $2,124 in storage expenses...
Rather than lend directly to consumers, Fannie Mae buys mortgages from banks and savings and loan associations, providing them with money to make additional loans. Most lenders stay in line with Fannie Mae's rules so they can sell mortgages to the agency...
Once he decides to work on a deal, Shaykin makes the rounds of banks and large investors like pension funds and insurance companies, which put up the loan money. Banks are leery of lending to foreign countries, oil drillers and other risky debtors, but they are happy to provide up to 70% of the cost of a buyout because of the large fees and lucrative interest rates that such business brings. The rest of the credit comes from selling so-called junk bonds--IOUs with relatively poor quality ratings--and other securities that offer high yields. Like the banks, investors...
...July, Kuwait's Hussain Makki Al Juma, managing director of 15 financial organizations around the world, was found by a London court to have defaulted on a personal loan of nearly $74 million. Yet Al Juma was re-elected in August to the board of the Bahrain-Kuwait Investment Group, which he has headed since...
...diet Coke are scattered across a desk dominated by a bulky radio microphone. A fleshy, pie-faced man in a short-sleeved shirt is idly dealing blackjack hands to himself while grappling with questions from his call-in radio audience. Mostly, the problems revolve around money: investments, insurance, loans, lawsuits. A man from Topeka who sells computer cables for a living wants to know how much liability coverage he should have. Bruce Williams replies, "I wouldn't walk across the street with less than a mil. Juries are crazy." A caller from Spokane wants advice on borrowing $2,000. Williams...