Word: repaid
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...that city deposits in the Chinatown bank were doubled after Bradley made a phone call to the Los Angeles treasurer. The savings and loan bank, meanwhile, was involved in a multimillion-dollar tax dispute with the city, and had been awarded several zoning changes. Following those disclosures, Bradley repaid his $18,000 fee to the Chinatown bank and quit his job as director of the thrift institution, but the taint of impropriety remained. "Dubious moonlighting," the Los Angeles Times called...
...rescue that will cost an estimated $126 billion during the next decade. The taxpayer portion would amount to about $60 billion, which would be contained in the federal budget over the next ten years. The Government would borrow $50 billion by issuing 30-year bonds to be repaid through revenues collected from S & Ls. Including the interest expense, half of which will be borne by taxpayers, the total package could cost $200 billion or more over the course of three decades...
Although the case was settled out of court in December, Bulger had received $240,000 out of the payment through a trust fund. Bulger has said that the money was a loan against future legal fees and that he repaid the loan with interest once he knew Brown was the source of funds...
...told, corporate debt has climbed from some $965 billion in 1982 to $1.8 trillion this year, a rise from 32% to 37% of U.S. gross national product. LBOs can be especially worrisome of borrowing, because they replace virtually all of a company's equity with IOUs that must be repaid. A sudden downturn can thus put a firm heavily in hock out of business. "High leverage is unsafe, not just for a company but for the entire economy," says M.I.T. economist Franco Modigliani, a Nobel laureate. Modigliani adds that while the debt mountain has not yet grown perilously high, "LBOs...
Junk bonds are piling up on top of a huge mountain of existing debt. The world's commercial banks hold almost half of the $1.2 trillion in Third World debt. That debt is choking growth in half the world, and most of it will never get repaid. At the same time, both banks and savings and loan associations have made billions of dollars' worth of bad loans to the real estate and energy industries...