Word: weeks
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Dates: during 1980-1989
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...spreading S&L scandal. The clamor for his ouster mounted last month after lower-ranking bank examiners told Congress that Wall had unduly delayed for 21 months a Government takeover of high-flying financier Charles Keating's Lincoln Savings & Loan Association, whose collapse could cost taxpayers $2.5 billion. Last week Wall finally bowed to the pressure and resigned as director of the Office of Thrift Supervision. He had been victimized, Wall complained, by "simplistic efforts to find a scapegoat to shoulder the blame for the entire thrift crisis...
That crisis could soon become worse, because new requirements designed to strengthen the thrifts could instead push many of them into extinction. Starting last week, S&Ls must greatly increase their capitalization as a hedge against losses from problem loans, interest-rate swings and bad investment decisions. Among other things, they will be required to maintain "risk-based capital" equal to 6.4% of their risky assets, such as shopping centers and fancy resorts. Because many thrifts are only marginally profitable, raising the funds to meet the standards may prove impossible for them. Some analysts warn that half the nation...
Accordingly, TIME invited five experts on European political and economic affairs -- a Soviet, a Hungarian, a Frenchman, a West German and an American -- to try and give definition to what Soviet President Mikhail Gorbachev calls "the common European house." During a six-hour meeting last week at an 18th century mansion in Brussels, the "capital" of the twelve-nation European Community, the group was asked to share insights on the future of Europe. The panel was not always in agreement but found consensus on some basic points...
...staff telephone U.S. Ambassador Nicholas Platt in Manila. Laurel's aide requested U.S. support for the Vice President's offer to broker a negotiated solution to the impasse. The deal: Aquino would be replaced by a rebel junta, presumably including Laurel himself. The U.S. declined the offer. Late last week Laurel denied he had made such a request and demanded a denial from Platt as well. The embassy replied that during the coup attempt there was no "communication" between Laurel and the Ambassador...
...Last week Baghdad claimed to have scored not one but two such gains: the successful firing of a three-stage rocket capable of lifting satellites into space, and the test firing of two surface-to-surface missiles with a range of 1,240 miles, more than twice that of the ones thought to be currently in the Iraqi arsenal...