Word: loaning
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When he came back home, he made himself a millionaire in the restaurant business. He's not a lawyer or a banker. There's no Chappaquidick, no Silverado Savings and Loan, no Anita Hill. He did let Debra Winger sleep over at the mansion when he was governor and drive around in state cars (certainly a bad judgment call), but Nebraskans didn't say much--they thought she was cool...
Shearson took a direct hit in its real estate business, as did many financial firms. Shearson's Balcor subsidiary suffered $200 million in loan losses, and was liquidated by the company in 1990. Amex had done even worse in the insurance business after buying Fireman's Fund, which suffered heavy underwriting losses. In 1986 Amex sold the company, but only after pumping more than $400 million into the business. American Express suffered both scandal and loss at its Boston Co. unit, a money-management firm that was discovered to have improperly overstated its 1988 earnings by $30 million...
...most dramatic change outlined in the bills would be the elimination of banks from the Stafford Loan Program. By creating a Direct Loan Program, students would borrow money from the federal government instead of from banks...
According to James S. Miller, Harvard director of financial aid, the Direct Loan Program would save the federal government "a significant amount of money" that could be applied to grants...
McCarthy said he feels that the Bush administration's recent refusal to support a loan to Israel "opens the way to a positive manifestation of anti-Semitism...