Word: ls
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...auction conducted in Dallas by the RTC, the federal agency selling off assets of failed S&Ls, six golf resorts in three states, with a total of 315 holes, were sold for $395.4 million, well above what they were expected to bring...
...their depositors as well. Americans have withdrawn more than $500 billion from low- yielding bank accounts over the past three years in favor of higher-paying investments like mutual funds. Even the Federal Deposit Insurance Corporation's $100,000 guarantee is no longer exclusively available to banks and S&Ls. Brokerage firms like Prudential Securities now offer "insured income accounts" with checking privileges and government insurance...
...well be that full disclosures of their investments will reveal the real reasons for their original secrecy, especially when the lists of their owners, stockholders and partners are scrutinized for other connections. Uncannily such secrecy of operations cannot help but invite comparisons with recent national scandals of S&Ls...
...collapse of Lincoln Savings and Loan, lawyers in the Cleveland firm of Jones, Day, Reavis & Pogue were pivotal. Without admitting actual guilt, the gigantic firm has agreed to pay a record $51 million to the Resolution Trust Corporation, the federal body managing the assets of failed S&Ls. According to the RTC, Jones Day attorneys -- hired by Keating in 1986 -- were well aware that Keating was practicing financial and legal legerdemain to conceal Lincoln's serious problems. Yet Jones Day raised no alarm. The resulting failure cost taxpayers at least $2.5 billion and led to a prison term for Keating...
...Budget Office fears they might still be $5 billion short). Congress can blame itself for some extra cost. In 1992 it refused to put up any more money, so the federal cleanup agency for almost a year has been unable to sell off the assets of 83 failed S&Ls it has taken over. It can only absorb losses that mount every day that Congress dawdles...