Word: loaning
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...collapse of Denver's Silverado Banking, Savings & Loan Association was expected to cost taxpayers more than $1 billion. That burden was eased ever so slightly last week when presidential son Neil Bush and 12 other former associates of Silverado agreed to cough up $49.5 million as part of a settlement of the Federal Government's $200 million civil suit alleging gross negligence and insider dealings...
...What about ethics in other callings, the sorry mess in the savings and loan associations, the scandals on Wall Street and among TV evangelists...
...neither a code of ethics nor the law kept those savings and loan institutions honest...
...became a latter-day banker, is now embroiled in controversy over his ties to a foreign bank convicted of money laundering. Nor was that the only cloud hovering over this Democratic Olympus. Alan Cranston, criticized by the Senate ethics committee for his shady dealings in the savings and loan scandal, showed up at the book party. So did Ted Kennedy, wrapped in the shadow of the Palm Beach sex scandal...
...frenzy that dumped thousands of new rooms on an already glutted market, with disastrous results. Six of every ten hotels in the U.S. aren't able to make a penny in profit, says Bjorn Hanson, an industry expert with the Coopers & Lybrand accounting firm. As losses mount, so do loan defaults, which have forced lenders to foreclose on a record number of ailing properties. More than 3,000 have reverted to lenders in the past three years, and experts expect an additional 7,000 to be repossessed in the next 24 months...