Word: loaning
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...Cohen, a Merrill Lynch vice president. "It's a pain to do it, but for three weeks of aggravation, you get years of savings on the interest." For his trouble, Cohen now enjoys a 15-year mortgage fixed at 6 3/ 4%, down from the 11 1/2% adjustable-rate loan he originally took out in 1989. His total monthly savings on the payments...
...bonds. The Dow closed at 3640.63, up 25.15 points for the week. At the same time, buyers stampeded to buy long-term bonds in order to lock in rates before they fall any further. Nor were U.S. investors on a solitary binge: hopes for a fall in European loan rates pushed stock exchanges in London and Paris to new highs last week...
...savings and loan crisis. The B.C.C.I. caper. Insider trading. Think of all the notorious business scandals that briefly enriched white-collar crooks during the greedy '80s. All those financial fiascoes might have been prevented with a simple lie-detector test: golf...
Charles Keating Jr., whose greed and recklessness made him an apt symbol of the savings and loan calamity, was sentenced to 12 1/2 years in prison for draining the Irvine, California-based Lincoln Savings, a swindle that cost taxpayers $2.6 billion. The sentence will run concurrently with a 10-year state prison sentence that Keating, 69, is serving...
Flood also called for the city to setup a revolving loan fund for landlords with limited income to use to repair their property...