Word: lent
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Dates: during 1980-1989
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...Henkel. Keating bragged that he had won a seat on the FHLBB for his friend and business associate Henkel (Keating had lent more than $60 million to businesses in which Henkel was part owner) by lobbying former White House chief of staff Donald Regan. Henkel's stint on the board lasted only five months. Although he was cleared of any wrongdoing, he resigned after the Justice Department and the FHLBB investigated his first official act: a motion that would have specifically benefited Keating by exempting Lincoln from direct-investment limits...
Criticism of auction-house guarantees and loans has been particularly widespread in the past few weeks, ever since it was disclosed that Sotheby's had lent Australian entrepreneur Alan Bond $27 million in 1987 to buy what became the most expensive painting of all time, Van Gogh's Irises. But Sotheby's defends its policy as right, proper and indeed inevitable. Guarantees are given "very sparingly," CEO Ainslie said last week. "It is unusual for more than one or two paintings in a sale to be guaranteed." Ainslie rejects any comparison to margin trading. "We do not make...
Irises was owned by John Whitney Payson, who had lent it to a small university museum in Maine. But with the news of Sunflowers' sale for $39.9 million -- and with little tax relief in sight if he gave it to a museum -- he decided to sell it through Sotheby's, which cautiously predicted a price between $20 million and $40 million and went to tell Bond the glad news. Sotheby's did not need to cast a delicate fly over Bond and strip it softly in. The fish was already halfway over the gunwale and champing eagerly...
...never entirely out of mind in California, it usually just withers in the sun, overwhelmed by the seductive arguments of the natural beauty and friendly climate. But now the palpable and sometimes painful memories of the Pretty Big One, as the locals are calling the recent quake, have lent a certain sharpness to the prospects of further shake-ups. Last week scientists were telling Californians that the state faces a 50% chance that another quake as strong as the recent one could happen "at any time" during the next 30 years. "And that means tomorrow," says Don Anderson, director...
...about two weeks, the National Organization for Women (NOW) will sponsor a mobilization in the nation's capital for abortion rights, but students at Harvard seem to have lent uneven support to the cause...