Word: overdrew
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Fran got blueprints. The bank still turned her down. Then ten other banks turned her down. Barrow, dark 24 hours a day in the winter, light 24 hours a day in the summer, treeless, ice-ridden Barrow, lusted for a Mexican restaurant, Fran claims. "So I just overdrew my checking account by $11,000, wrote a hot check, let a couple of big bills slide and opened Pepe's North of the Border...
Overdrafts Even friendly Senators on the committee pointed out that Lance's biggest problem was to explain why he, his wife LaBelle and relatives, as well as his 1974 campaign committee, had been allowed to write large checks that seriously overdrew their accounts. As Democrat Henry Jackson told Lance: "The man on the street comes up to me and says, I cannot have an overdraft, and he sees one after another ... I think this is the heart of your problem...
Some Senators were quick to point out, however, that Lance's other accounts were often insufficient to cover the overdrafts by himself, his wife-whose personal overdrafts reached a high of $110,493 in 1974-and his gubernatorial campaign committee, which overdrew its accounts by as much as $152,706 in 1974. He insisted, however, that he had given the bank a $110,000 certificate of deposit to cover any campaign overdrafts, as well as an unlimited signed guarantee that he would meet all of his political committee's debts to the bank. And, Lance claimed...
...harmful to Lance's image as a tightfisted budget director bent on balancing the national ledger was the report's confirmation that his Calhoun bank winked at massive overdrafts by the bank's officers and their relatives. According to the report, Lance's wife LaBelle overdrew her account by as much as $110,000 in the last four months of 1974. Between September 1974 and April 1975, nine Lance relatives amassed overdrafts totaling an impressive $450,000. In December 1975, federal bank examiners insisted that the overdrafts be stopped...
...getting nice things on the cuff first became plain to him when he got a limited credit card issued by the Chase Manhattan Bank. It permitted him to charge up to $300 in New York stores, pay it back at the rate of $25 a month. Last August he overdrew by $73, and the bank put a stop on further debt. Meanwhile, with his Chase card as a recommendation, Miraglia applied to the Diners' Club, American Express and Conrad Hilton's Carte Blanche for good-anywhere credit cards. Diners' and American Express turned him down; Carte Blanche...