Word: ls
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...decided it needed a new version of the old spy plane. It would incorporate the latest "stealth" features as well as updated electronic snooping capability that can peer sideways over borders and transmit data-including TV-type pictures-directly back to military commanders on the ground. Twenty-five TR-ls will be built at a cost of $550 million. Thanks to Johnson's premonition, the bill will be a tidy $10 million less than it might have been had he not squirreled away those old tools...
...upheaval in the savings business has been most dramatically seen in the recent explosive transfer of money from banks and S and Ls into the trendy money market funds. During the month prior to Carter's new measures, $4 billion came out of mattresses, cookie jars and savings accounts and went into money market accounts...
Hardest hit of all have been the nation's mutual savings banks and S and Ls. Because the thrifts have historically been forced to rely largely on mortgage lending for their business, much of the industry's current income is still coming from home loans written years ago, when rates were no more than half the current national levels of 15½% to 17% for a typical 25-year loan...
...amount of tightening up on the money market funds is likely to be of much immediate help to the thrift institutions in any case. Wall Street analysts estimate that at least 20% of the nation's S and Ls are already losing money in the current squeeze. Last week Cleveland's Washington Federal Savings and Loan was forced into receivership. The bulk of its assets were acquired by another Ohio thrift institution after Washington Federal was unable to pay for Government securities it had ordered...
Banking experts would not be surprised at all to see at least a few more S and Ls keel over in the coming months. Said Wall Street savings and loan analyst Jonathan Gray: "There is simply no way to describe the situation without sounding inflammatory. If rates stay at their present levels, by the end of the summer about 75% of the nation's S and Ls will be losing money...