Word: lootings
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Dates: during 1980-1989
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When the huge cost of the cleanup hit home last week, so did a strong sentiment in favor of pursuing the fraudulent thrift owners who made off with the loot. Regulators have estimated that at least one in every four S & L failures has been the result of fraud. In fact, the Bush rescue plan proposes to give the Justice Department an additional $50 million a year for probing S & L fraud, a sum that would pay for 200 new investigators and 100 more prosecutors...
With matchless artistry and unfaltering poise, the Soviets stormed Seoul's gymnastics hall and marched away with most of the glittering loot. Gold honors went to both the women's and men's teams, the latter setting a standard so far above its competitors that in a sport where thousandths of a point can make a difference, the runner-up East Germans finished almost a full 5 points behind. In the all-around battle, the Soviet men fought among themselves for the three medals, the first such sweep since Japan's hat trick in 1972. By the time...
...knowledge of a few secret codes, Gabriel Taylor, 27, electronically transferred the money from accounts belonging to Merrill Lynch, United Airlines and Brown-Forman distillers to accounts that some of the conspirators had set up under assumed names at two banks in Vienna. Before the gang could collect its loot, First Chicago discovered the fraud and alerted the FBI, which last week located the money and arrested Taylor and six alleged coconspirators on charges connected with illegal wire transfers. But the embezzlers came tantalizingly close to succeeding and showed how vulnerable banks and their vast computerized cash-movement networks...
...confusing answer: sometimes yes and sometimes no. Switzerland has always been willing to help the U.S. track down criminals who used Swiss accounts to stash their loot. But the two countries do not always agree on what constitutes a crime. In the Iran-contra case, there was no problem: North and his associates are accused of fraud, which is clearly a crime in Switzerland. Tax evasion, though, is not against Swiss law. An American who underreports his income can still hide the extra money from the Internal Revenue Service by putting it in a Swiss account...
...show business contagious laughter breeds continual loot; the man who could not get arrested in Hollywood last year is now a well-paid pitchman for Honda and is in constant demand for TV specials and sitcoms. There are a book and a record based on his show, and in January he will begin filming Caddyshack II, a big-budget film about a self-made millionaire who joins a snobbish country club -- only to run afoul of the members when he develops a low-income housing project nearby. In 1987 the comedian will gross well over $1 million...