Word: loans
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Dates: during 1980-1989
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...million probe unearthed numerous allegations, many of which have been discarded. The committee found that Wright's heavy-handed intervention with federal officials on behalf of failing Texas savings and loan associations was no more than what other Texas Congressmen were doing. His intercession with Government officials and Egypt's Anwar Sadat to help a Texas oil-and-gas company was also found to be all in a day's work for the average member...
President Bush's plan to bail out the savings and loan industry is getting little help from depositors, who are withdrawing their money at an inconvenient moment. The Federal Home Loan Bank Board, which regulates S & Ls, said last week that in January thrifts suffered a record monthly net-deposit outflow of $10.7 billion (total remaining S & L deposits: $964 billion). Because Bush's proposed $200 billion bailout package is to be financed in part from the thrifts' federal insurance premiums, which are based on the size of their deposits, the withdrawals could reduce that source of Government income...
Under Brady's new plan, banks would accept a reduction in the debt owed them by the countries, allowing institutions such as the International Monetary Fund (IMF) and World Bank to loan money to the countries. Until now, creditors have been unwilling to loan money to countries that have deficits. The influx of money that the debtor-nations will receive, increased by the reduction of debt and the IMF money, will help their economies grow, experts...
...Brady proposal hopes to reverse that tide by giving lenders an incentive to ease the pressure on debt-ridden countries. A banker, for example, might be willing to accept lower interest payment on an existing loan -- 6% a year, say, as opposed to 10% -- if assured that all interest payments would be made on time. In recent years, many strapped Latin debtors have repeatedly made late interest payments. This has an immediate and painful effect on the creditor bank, since it lowers its quarterly earnings. Under the new plan, the International Monetary Fund and the World Bank would insure that...
KSSG parliamentarian Leroy Divinity said he hoped Putnam would encourage more programs like the school's loan-forgiveness program, which provides financial incentives for students to go into public service...