Word: morgans
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Dates: during 1980-1989
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...most visible trouble spot was Continental Illinois, the seventh-largest U.S. bank. Aggressive lending to energy firms and other ailing borrowers has filled its books with $2.3 billion in sour loans. After rumors that the bank was about to fail led to a run on the Chicago lender, Morgan Guaranty and 15 other big banks last week rushed to Continental's rescue with a $4.5 billion line of credit, the largest ever for an American bank. Its goal: to help avert what threatened to become the biggest collapse in U.S. banking history...
...Morgan frequently boasted to friends about her insider's view of the Reagan White House. While working as an aide on the Reagan campaign, Morgan gossiped about dining with Bloomingdale and Reagan cronies and chauffeuring Vice Presidential Candidate George Bush around Los Angeles. Recalls Marvin Mitchelson: "She said she knew political and sexual secrets about this Administration that would make Watergate look like a play school...
Bloomingdale hoped that the newly elected Reagan would name him Ambassador to France, and he promised Morgan a minor Government job in Paris. Federal investigators let him know, however, that his compromising affair made his appointment impossible. TIME has learned that Bloomingdale had been investigated by the FBI as early as the late 1960s, when his name came up in connection with organized-crime figures in Las Vegas. About 15 years ago, Bloomingdale shelled out $5,000 in blackmail because of his habit of beating up prostitutes. Yet despite that record, he was chosen by Reagan as an appointee...
Pancoast entered Morgan's life in 1979 when they were both being treated for depression at a private Southern California mental hospital. Pancoast, who held a series of minor show-business jobs, helped Morgan gather material for her palimony suit. After she lost the case and was forced to sell her jewelry and Mercedes, he split the rent on her $1,000-a-month apartment in North Hollywood...
...prosecutors say that they will fight to prevent Pancoast's attorneys from turning the defendant's murder trial into an expose of the relationship between Vicki Morgan and Alfred Bloomingdale. There is no evidence of a conspiracy behind Morgan's sad, shabby death. But the prosecution's case against Pancoast is far from ironclad. Beyond his now repudiated confession, there is no hard evidence. A strong motive has not been established, and the investigation of the case was strikingly inept. The police neglected to seal off the scene of the crime and did not recover...