Word: marylander
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Dates: during 1980-1989
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...Walker, 47, worked as a private detective in Norfolk, Va., dated a policewoman and loved to fly around in his single-engine plane. His three private-investigation firms supplied security services to companies as well as run-of-the-mill snooping for individual clients. But on a rural Maryland road one night last week, FBI agents caught Walker apparently pursuing another one of his businesses: supplying U.S. military secrets to the Soviet Union...
...Mediterranean. When the agents arrested Walker early the next morning, the FBI said, he was carrying a map of clandestine drop points in the Washington area, places where a spy could leave documents to be retrieved by a contact. One of those drops was the tree on the Maryland road he had visited earlier. A member of the Soviet embassy staff was seen nearby after Walker dropped off his "trash," but was not arrested because he made no attempt to recover the documents; at week's end he was recalled to the Soviet Union...
...economists admitted, however, that a few lurking dangers could ambush the economy. For one thing, public confidence in the financial system is fragile in the wake of the savings and loan crises in Ohio and Maryland. So far, the trouble has been limited to institutions without federal insurance, but Greenspan is concerned that the uneasiness of depositors could spread. Said he: "Although the Ohio and Maryland savings and loan situations are of negligible dimension, they are scaring everyone silly. If people ever became disaffected with the federal insurance system, you could get emotional runs on the S and Ls that...
...hour emergency session on Friday, the state assembly passed seven bills that give the Governor more power to regulate the state's thrifts and replace the old private insurance system. The new laws will require all Maryland S and Ls to obtain federal coverage within four years or close their doors. In case they need state help in the meantime, the legislators authorized a $100 million bond issue. To reduce Maryland's potential loss in rehabilitating the Old Court and Merritt thrifts, the state began negotiating their sale to such institutions as New York's Citicorp and Chase Manhattan...
Following the Ohio episode, Maryland's crisis may have dealt a fatal blow to private insurance in the rest of the country. While 83% of U.S. thrifts are federally insured, 30 states allow at least some of their banks, thrifts or credit unions to rely on private coverage. Many institutions that are small or in a hurry to grow prefer local insurance funds because they tend to be less strict than federal regulators. Old Court, for example, was able to boast money-market accounts with interest rates of up to 11%, compared with about 8.5% offered by federally insured thrifts...