Word: loans
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Dates: during 1980-1989
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...travails at First RepublicBank began last year, when the company, then called RepublicBank, acquired another Dallas firm, InterFirst, which was on the verge of collapse. InterFirst seemed salvageable, but its loan portfolio was in worse shape than RepublicBank assumed. As a result, First RepublicBank last year lost $657 million. Says Paul Horvitz, a professor at the University of Houston: "The merger may turn out to have been the worst business decision ever made." Worried First RepublicBank's depositors have pulled some $2 billion out of their accounts this year. If First Republic were to fail, it could cost the FDIC...
Massachusetts Gov. Michael S. Dukakis:Dukakis speaks frequently about the numerouseducation initiatives he undertook as governor,such as the Boston Compact, between the city'sbusiness community and local schools. AsPresident, Dukakis says he would end Secretary ofEducation William J. Bennett's assault on theGuaranteed Student Loan (GSL) and Work-Studyprograms, federal programs targeted for low andmiddle-income students...
...apprentice stashed his fund temporarily in a savings and loan account at a contemptible 5 1/2% (which, he later concluded, would have netted him $1,200 over the period of his adventures) and went looking for trouble. A financial consultant offered to relieve him of all anxiety, and of a fee of 2% to 4% of his assets, by drawing up a sensible budget. This was not the sort of trouble Rothchild had in mind. He studied hard, listened carefully to a succession of brokers and analysts, and lost steadily. His only good advice came from an astrological marketeer...
...Consultant Levy. "It's treated like a subject in bad taste." When parents do talk, the instruction is likely to be minimal. Tracy Gary remembers one such childhood directive. "This is a quarter," her mother told her. "You have a lot of choices. You can donate it, save it, loan it to a friend...
According to the study, a number of schools seem to be less in the business of education than that of processing federal loan money. Some were found to recruit students from unemployment and welfare offices, waive them through token entrance exams and then sign them up for courses whose costs often just happen to equal the maximum available federally guaranteed loans. In many cases, the study found, students do not even realize they are signing loan applications. Trade schools were also found to lie to students about their job-placement rates and make false claims about the qualifications of their...