Word: loaning
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Harvard says the money is only a loan, to be paid back out of revenue as previous alumni pledges pour in over the next few years...
...editor Bernard Baumohl, who covers the economy. "In the past two or three years, the Federal Reserve gave banks a great gift: it held interest rates at very low levels," he says. Lower interest meant that banks could get away with giving depositors lower rates of returns while keeping loan rates relatively high -- and pocketing the profits...
...think that the millions of small savers who made this sacrifice to banker comfort could at least have got a loan from a bank, but no way. They got mortgages, and that was it. There were no home-equity loans, and stores didn't take credit cards. The only sources of quick cash were pawnshops, relatives, loan sharks and the local finance company...
...suit promises to become another p.r. headache for the RTC, which has already come under scrutiny for leaks involving Madison Guaranty Savings & Loan, the Arkansas thrift at the center of the Whitewater affair. And it will get thornier if six other fence sitters join the plaintiffs. One of these, L. Jean Lewis, prepared criminal referrals on Madison that mentioned President Clinton...
...familiar words another Whitewater casualty (and Clinton confidant) left the Administration. Deputy Treasury Secretary Roger Altman's position had become politically untenable after Democrats as well as Republicans accused him of misleading Congress about his contacts with the White House over an investigation of the Arkansas savings and loan at the heart of the affair. A day after Altman walked the plank, he was followed by Jean Hanson, the chief Treasury lawyer, who had been criticized for failing to correct misstatements she knew Altman had made in congressional testimony...