Word: safe
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Dates: during 1980-1989
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Keating sought to keep his savings and loan operating even though the Federal Home Loan Bank Board (FHLBB) in San Francisco had found enough bad loans and shaky business practices to shut it down. After Keating purchased Lincoln in 1984, he switched from investing in safe, single-family mortgages to go-go deals in raw land, junk bonds and huge development projects like the $900-a-night Phoenician Resort in Scottsdale, Ariz...
...steered into buying uninsured securities issued by ACC to keep the institution afloat. In hearings held by the House Banking Committee, Congresswoman Marcy Kaptur of Ohio read a letter from a 65-year-old man who was persuaded by a Lincoln saleswoman that the ACC bonds were just as safe as insured certificates of deposit, paid a point more in interest, and ran only ten months. "If ACC goes under in ten months," she told him, "our whole economy is in trouble." Seven months later, ACC filed for bankruptcy and the retiree lost...
...hardship. This year Mexico's annual inflation rate is running at 17% (down from 52% last year), Argentina's, 3,500% (up from 388%) and Brazil's, 1,600% (up from 934%). Perversely, the rich have helped perpetuate the economic malaise by such tactics as sending their money to safe havens abroad and dodging taxes that could help ease domestic deficits...
...probably a safe bet that when you hear the name MIT, it's almost never mentioned in the same breath with the word "athletics." But, surprise, MIT has the largest athletic program in the country--consisting of 37 men's and women's varsity sports, and an incredible array of over 23 club and intramural sports ranging from archery to yoga...
...regard to students who are not aware of the service, it is frequently promoted in the monthly house blotters and the Crime Prevention Information Bulletin. In addition, it is mentioned in both the Handbook for Students and the booklet "Playing it Safe," which are distributed to all students. Paul E. Johnson Chief of Police