Word: bailing
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Dates: during 1980-1989
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...possible that the legislature-meeting in special session this week-will be able to solve the T's management dilemma by Friday. But instead of opting for a quick bail-out that will leave the system unchanged until the same thing happens next year, the legislature and the Advisory Board's should let the subways shut for a few days if they cannot agree on changes in management and funding, time enough to let pressure mount on King and the Carmen's Union. A remedy that doesn't reverse the process by which King has sold out the taxpayers...
Legislators from western areas of the state, who represent districts with no MBTA service and have little incentive to bail out the system, said they too would oppose King's latest proposal. "As far as I'm concerned, the system can shut down," State Rep. William D. Benson said yesterday...
...avert a possible mass transit shutdown this weekend, Gov. Edward J. King yesterday submitted a new proposal to bail out the bankrupt Massachusetts Bay Transportation Authority (MBTA) and reorganize its troubled management...
...Western eyes, the Soviet Union has contributed to the creditworthiness of the East bloc economies because no one believes that Moscow would allow one of its allies to go bankrupt. True, North Korea defaulted on a Western loan in 1975, but bankers attributed Moscow's failure to bail out Pyongyang to Sino-Soviet rivalry. The Kremlin has helped Poland in the past and could do so again, for example, and today it is flush with funds. Thanks to foreign sales of gold and oil, the Soviets have paid off $2.5 billion in private bank loans. Thus far, however, they...
...Washington or private banks were to bail out Poland again, it could be taken as a vote of confidence in the Soviet Union: lenders would be saying that they expect the Polish economy to be nursed back to health by Moscow so that it will eventually be able to repay its loans. In the international financial community the prevailing sentiment is that the West cannot afford to turn down Poland's money request for fear of a more pronounced Soviet intervention in the country's internal affairs. Says Lawrence Brainard, a Bankers Trust vice president: "The real issue...