Word: ls
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...trouble. One of them loaned money for energy schemes ranging from windmill farms to cow-manure incineration, while the other served as a whimsical and allegedly fraudulent investment machine for its owner, a former dentist. Last week federal regulators said they would liquidate the two ailing S and Ls, a drastic step for institutions so large. The Federal Savings and Loan Insurance Corp., which guarantees thrift deposits, will spend a record $1.35 billion in cash to pay off insured depositors (up to $100,000 for each account) of Costa Mesa's North America Savings and Loan Association and the American...
...pick up the tab. The Government is suing the managers of both thrifts for more than $100 million, charging them with fraud and negligence. But most of the $1.35 billion payout will come from the FSLIC's reserve fund, which is largely composed of premiums collected from S and Ls...
Still, M. Danny Wall, chairman of the Federal Home Loan Bank Board, which oversees FSLIC, believes that the thrift spiral is finally ending. His list of the worst-off thrifts has stabilized at 204. Moreover, S and Ls in general are starting to soak up much needed deposits again. During the first two months of this year, thrifts absorbed $10.6 billion in new deposits, compared with an outflow of $3.2 billion during that period last year...
...astonishingly, U.S. legislators have been helping keep the red ink flowing. Reason: Congress has withheld from the FSLIC the amounts of cash needed to pay off the depositors of the insolvent S and Ls and thus wind down the problem once and for all. Though the FSLIC has shut down, merged or taken over 108 institutions since the beginning of 1986, the agency has had to allow some of the sickliest thrifts to stay in business through the device of lenient accounting practices. Complains William Black, deputy director of the FSLIC: "We are the only shop that keeps insolvent institutions...
...users connected to SUMEX should type cd info-mac. Any files with a .HQX extension are actual Macintosh files; other listings are directories which can be entered and examined with the CD and LS commands respectively...