Word: ls
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Dates: during 1990-1999
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...deep slump could inflict heavy damage on overleveraged companies and troubled banks whose books are already filled with junk bonds and sour real estate loans. According to Veribanc, a Massachusetts-based firm that rates banks and S&Ls, bad loans at U.S. banks rose a sharp 7.5%, to $48.6 billion, in the first quarter of 1990. Overall, nearly 1,400 banks, or about 11% of the U.S. total, lost money in the first quarter. That represented an alarming jump of nearly 20% over the same period a year...
...imposed strict new lending standards on thrifts and commercial banks; the restrictions helped cause a credit crunch earlier this year. Ironically, many thrifts may go belly-up because of the tough new regulation. The standards require thrifts to have more capital on their books than even some profitable S&Ls had previously carried. As a result, even some well- managed institutions such as Chicago's 68-year-old Talman Home Federal Savings and Loan (assets: $5.7 billion), which expects to earn $20 million this year, may have to close their doors or be acquired. Says Theodore Roberts, chairman of Talman...
...broad economic downturn could inflict heavy damage on both banks and S&Ls. The threat of a such a slump was aggravated last week, when oil prices rose more than 10% in response to Iraq's invasion of Kuwait. Ironically, rising crude prices would reinvigorate the economies of oil-patch states where thrifts have been hit hardest, but the effect would probably be too little, too late to reduce the cost of the bailout by much...
...they blamed most for the thrift mess, 36% said the Republicans, while 18% said the Democrats were mostly at fault. Only 12% said they have a lot of confidence in the government to correct the S&L mess. Another 59% indicated they were losing confidence in their local S&Ls...
...toll on the U.S. by depressing, to some extent, an already weak real estate market in many parts of the country. And taxpayers will be stuck for any losses on properties sold for less than the frequently overstated book values that Washington inherits when it shuts insolvent S&Ls...