Word: oklahomas
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...reporting of losses from mortgage sales. Moreover, 122 S and Ls now count among their assets so-called net-worth certificates, which are little more than Government IOUs that have been handed out by the FSLIC to dress up the balance sheets of troubled institutions. The rules helped Oklahoma-based Frontier Federal Savings & Loan boost its net worth from a negative $44 million to a positive $14 million. The General Accounting Office says that without these accounting gimmicks, 43% of the thrift institutions in the U.S. would be considered insolvent (with fewer assets than liabilities) or nearly so (with...
...stretching from the Great Lakes down through the Midwest. By last week Michigan had suffered 22 straight days of downpours. Some 2,700 people were evacuated from floods around Chicago, and St. Louis was partly submerged. A damaged dam in Wisconsin was threatening to burst. A tornado ripped through Oklahoma City...
Illinois and Oklahoma called out the National Guard to deal with the disaster, and the Mississippi River reached flood-warning levels. Forecasters offered no rays of hope: a hurricane sweeping up from Mexico threatened the region with more gloomy weather...
...immediate plans include studying English at the University of Texas and cheering for her football-player boyfriend this week at the annual Longhorns- Oklahoma Sooners game. Pretty quotidian for a girl whose spectacular flips and splits won her four perfect 10s and a gold medal at the 1984 Olympics, right? Not at all, said Mary Lou Retton, 18, as she announced her retirement from full-time gymnastics last week. She wants to "mix with kids my own age" and "get on with my life," albeit at a pace that might exhaust less energetic souls. In addition to taking courses...
...reports on drug abuse since the beginning of March; ABC two weeks ago highlighted drugs on all its news programs. Cocaine and crack have been front-page news in dailies ranging from city tabloids to the Wall Street Journal, which last week reported abuse was "rife" in rural Oklahoma. Crack has repeatedly reached Page One of the New York Times and Washington Post, and the drug crisis rated two cover stories within three months at Newsweek. The magazine's editor in chief, Richard Smith, wrote in the June 16 issue: "An epidemic is abroad in America, as pervasive and dangerous...