Word: loans
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Dates: during 1980-1989
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...have yet to address the basic problems: excessive volatility, excessive speculation, excessive use of credit and inadequate regulation. This speculative behavior is not driven by individual manipulators, as was the case in the 1920s and '30s, but by institutions such as pension funds, insurance companies, banks and savings and loan associations backed, in many cases, by state and U.S. Government guarantees. Curbing speculation and promoting investment must be the objectives of reform...
...huge mountain of existing debt. The world's commercial banks hold almost half of the $1.2 trillion in Third World debt. That debt is choking growth in half the world, and most of it will never get repaid. At the same time, both banks and savings and loan associations have made billions of dollars' worth of bad loans to the real estate and energy industries...
...have an exposure of close to $100 billion to Third World borrowers; a 50% loss in the market value of these debts, if it were to be officially acknowledged, would require nearly $50 billion of capital support, more than three times the size of the present FDIC fund. Existing loan-loss reserves would provide part of the capital, but not nearly enough to cover the exposure. Estimates on the ultimate cost of rescuing the S and Ls increase almost daily, with some experts predicting $50 billion to $70 billion as the possible charge to the taxpayers...
...Unfortunately, every baby born doesn't bring a loan from a World Bank with it when it comes out of the womb," McNamara said. "They need capital...
...Barry administration has had an extremely shoddy record of municipal administration. The city's ambulance service casually arrives 20 minutes late at the scene of car accidents and heart attacks. A loan program designed to aid poor families in meeting mortagage payments has mainly gone to aid middle-class families, including members of the Barry administration--most of whom could handily afford the payments...