Word: low
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Dates: during 1980-1989
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Unlike the Senators who seek campaign contributions from the likes of Keating, Wall had nothing to gain but the continued esteem of the thrift industry for his consistently low estimates of the extent of the savings and loan debacle. He is a stolid former city planner from Salt Lake City whose only extravagance seems to be his natty suits and monogrammed shirts. As the top aide to Republican Senator Jake Garn of Utah when Garn was chairman of the Senate Banking Committee, Wall became a favorite of S & L owners. Says Senator Leach of Wall's 1987 appointment: "The industry...
...have the hot auto crushed in a trash compactor. He sells it instead, a characteristic act of greed that promises to get him in trouble. But Higgins seems much more interested in atmosphere than in denouement. There are long, long passages of the author's by now patented low-life banter, characters being long-winded and tedious about the banalities of their lives. Readers who like this sort of thing will love Trust. Others will wish that Earl had got his comeuppance a lot earlier in the book...
...Cristiani, the situation is delicate. During his presidential campaign, he courted votes by proclaiming his impatience with the pace of fighting permitted by his predecessor, Jose Napoleon Duarte. "The U.S. wants a low- intensity conflict, meaning do so much not to win, but not to lose," he said in March 1988. "That's not fair to the military." He went on to say that if the F.M.L.N. failed to accept a consensus proposal for peace, "that would justify harsher military action." Having been treated to a fairly easy first six months in office, Cristiani was finally put to the test...
...lending and other investment services generated $240 million in 1988 -- nearly a tenth of Sotheby's gross income of $2.3 billion. What Taubman saw (and staider Christie's was not slow to pick up) was that an auction house could go directly to the public, not only at low price levels but also at very high ones. In the past, auction houses sold mainly to dealers, who put on their markup and then sold to their clients. People were shy of going to auctions; the whole apparatus of reserves, attributions, codes and bids seemed mysterious and scary. Scratch your nose...
...under which you buy and sell related securities at the same time. You lose on one and gain on the other, but if you've done the math right, you'll usually lose a little less than you gain. Yippee! But you've got to keep your transaction costs low and, of course, not get caught with a taxable gain on one half of the hedge without realizing your loss on the other half. It was to avoid that hitch, basically, that Princeton/Newport entered into understandings with Drexel Burnham Lambert and other firms to make these tax sales. "Look," Regan...