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...Government has filed a $1.1 billion fraud and racketeering suit to try to recover some of the money that Keating and his family are said to have taken out of Lincoln. Several class-action suits charging that Keating siphoned off millions to sham corporations in Switzerland, Panama and the Bahamas have been filed on behalf of 23,000 mainly elderly California bondholders. During the two years that Lincoln stayed open after the five Senators met with San Francisco bank examiners who wanted to shut Lincoln in April 1987, the cost of paying off the S & L's federally insured depositors...

Author: /time Magazine | Title: Keating Takes the Fifth | 12/4/1989 | See Source »

...Catholic Church, the guerrillas slipped away, and the U.S. soldiers, using journalists as a shield, ran from the hotel to waiting military vehicles. But so alarming was the event that President George Bush, acutely mindful that he had been seen to be dithering during October's aborted coup in Panama, quickly convened a meeting of a National Security Council emergency group and ordered a small contingent of the supersecret Delta Force into San Salvador. At one point Bush even made the embarrassing claim that the U.S. commandos had "liberated" the Green Berets...

Author: /time Magazine | Title: El Salvador: The Sheraton Siege | 12/4/1989 | See Source »

...each refitted to five-star, died-and-went-to-heaven standards, will leave Washington's Union Station and roll into legend. The next morning at 10:17, some 50 cosseted passengers, dreamy from a night of love and laughter, aslosh with breakfasts that on a recent test run from Panama City, Fla., to Atlanta included crepes with crabmeat, followed by eggs, spinach, hollandaise sauce and baby lamb chops, will arrive at Chicago's Union Station...

Author: /time Magazine | Title: Travel: Reinventing The Train | 11/13/1989 | See Source »

...week later, regular five-car, six-night-a-week service from both Chicago and Washington will begin, with American-European Express running as self- contained segments of regular Amtrak trains. "On the seventh day," says Bill Spann, the Panama City resort owner who heads the venture, "we polish mahogany." There is a lot to polish, all solid wood, installed by cabinetmakers who usually work on yachts...

Author: /time Magazine | Title: Travel: Reinventing The Train | 11/13/1989 | See Source »

Despite these conclusions, the Administration is using the furor over Panama to seek more leeway to assist a coup that, while not intended to kill Noriega or another foreign leader, might wind up doing just that. At the same time, Bush last week assured the Senate Select Committee on Intelligence that he would give it "timely notice" of covert actions, at least within a matter of days (in contrast to the ten months that Ronald Reagan once took...

Author: /time Magazine | Title: The Stovepipe Problem | 11/6/1989 | See Source »

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