Word: loaning
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...party to the middle. The G.O.P. newcomers are pulling an already conservative party further to the right. The question is whether on some issues they will drag it too far for most voters to follow. In a Time/CNN poll, 71% of those surveyed agree with the freshmen in opposing loan guarantees for Mexico. But just 22% want to see the assault-weapons ban overturned...
...Mexican loan guarantees, the newcomers aren't buying at all. Though the plan involves not direct loans but only guarantees--meaning the U.S. would be called upon to come up with the $40 billion only if Mexico defaulted on loans extended to it by private lenders--the deal is a hard sell to voters skeptical about helping either foreign nations or the Wall Street investors whose money is still in Mexican securities. At a press conference last week at which anti-bailout freshmen teamed with conservative commentator Pat Buchanan, first-termer Wamp promised to vote ``with the people of east...
...from a business entity unless one is a partner in it.'' Most of First International's income came from the interest on a promissory note issued by Corridor Broadcasting Corp., a firm formed by Hill during the 1980s. In 1986 Corridor borrowed $26 million from a Texas savings and loan to buy two TV stations. The thrift later failed and was taken over by the Federal Deposit Insurance Corp. Two years after Corridor's 1991 default, the FDIC sold off the loan for $3.1 million, declaring a $23 million loss to taxpayers in 1993. But in 1994 Hill paid more...
...problem making for jumpy nerves was evident: Mexico, and the hurdles the Clinton Administration was facing in trying to pull together a $40 billion loan-guarantee package for the battered neighbor. The scare that had afflicted financial markets in the wake of Mexico's debilitating Dec. 20 devaluation of the peso was developing into something more serious: a general skittishness about markets in countries embracing tariff cutting, deregulation and the sale of state-owned assets on the road to modernization. The new, skeptical mood was in fact spreading beyond the Third World to affect countries like Spain, Italy and Sweden...
Anxiety was fueled by political tussling in Washington, where the White House was striving mightily, and unsuccessfully, to persuade a majority in the U.S. Congress to endorse proposed loan guarantees for Mexico. ``Failure to act could have grave consequences for the Mexicans, for Latin America, for the entire developing world,'' warned President Clinton, who got support from both the Democratic and Republican leadership as well as from Wall Street and the always cautious Federal Reserve Chairman Alan Greenspan. Greenspan urged Congress ``to halt the erosion in Mexico's financial capabilities before it has dramatic impacts far beyond those already evidenced...