Word: moneyed
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Dates: during 1980-1989
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...capital of their own at stake enabled some thrift owners to make risky and often fraudulent loans without sufficient cash to back them up. Said New York Democrat Charles Schumer: "The S & L industry has been playing a giant game of roulette, and they have been gambling with taxpayers' money. Without tough capital rules, we will be telling these high-flying speculators, 'O.K., go back to the casinos...
...persistent criticism of the Bush plan is that it fails to provide as much money for the bailout as will eventually be needed. By some estimates, the cost of cleaning up the industry could exceed $300 billion over 30 years, with taxpayers picking up two-thirds of the bill. The FHLBB reported last week that the 2,938 Government-insured thrifts in the U.S. posted losses of $3.4 billion during the first quarter of the year. Observes Alex Sheshunoff, an industry analyst: "There's a lot more bad news to come." In the S & L industry, unfortunately, the most pessimistic...
Some investors nonetheless expressed outspoken support for the deal. Said Gordon Crawford, a money manager at the Los Angeles-based Capital Group, the largest institutional owner of Time shares: "If you put Time and Warner together, you have what I think will be the greatest media and entertainment company in the world. I would rather be a long-term owner than cashed out of one of the world's most exciting companies at $175 a share." Concurred Kendrick Noble, who follows media companies for the Paine Webber investment firm: "After all the smoke blows away and we can look...
...that end, the Zimbabwe government is sending ten of its threatened rhinos to south Texas ranches this summer. The program is supervised by the American Association of Zoological Parks and Aquariums, but the bill is being footed by Game Coin, a group of hunters. Rescuing rhinos costs big money: Game Coin has already invested $300,000 in the rhinos at Bentsen's ranch, and will spend more than that to capture and transport the Zimbabwe rhinos...
...dioxide emissions more than the law requires, it can sell the unused portion of the emissions it is allowed to another company that is having trouble meeting its standard. While the total reduction would be the same, both companies would cut costs: the seller because it would get extra money, and the buyer because it might be less expensive for it to purchase pollution rights than to make the required slash in emissions immediately...