Word: lender
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Dates: during 1980-1989
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...direct intervention, confidence was maintained by the existence of safety nets and regulatory bodies created during the 1930s, including federal deposit insurance, Social Security and unemployment compensation. There was not a murmur of concern about the banking system since the public assumed, correctly, that the Government was the lender of last resort...
Multimillion-dollar cases like Conlan's are suddenly proliferating, giving the banking industry a dreaded new buzz phrase: lender liability. Gone are the days, says Victor Roy, a Louisiana banking lawyer, when "suing a bank was ! like suing the Pope." While the increase in lawsuits can be attributed in part to growing litigiousness, some bankers have themselves to blame. In the early 1980s, lenders aggressively sought new borrowers in farming and oil, pushing generous loans under the presumption that the good times would keep on rolling. But when the bottom fell out of petroleum and commodity prices, many ventures were...
...breakfast favorite primarily in New York City and along the Atlantic seaboard. Now it is increasingly appearing on fast-food menus and in the freezers of supermarkets well beyond its ethnic boundaries. Two giant firms have moved into the frozen-bagel business in recent years: Kraft, which owns Lender's, the first and largest producer of frozen bagels, and Sara Lee, which has a line of its own. But primary credit for the yeasty assimilation goes to Burger King, the Pillsbury-owned fast-food chain, which last summer began featuring the bagel nationwide as a breakfast sandwich...
Even traditional bagel bakers have trivialized the product by adding such flavors as pumpernickel, onion, poppy or sesame seed, and even cinnamon and raisin. The Big Apple Bagels shops in the Chicago area offer among their variations, incredibly enough, one with banana and nuts. Lender's has just introduced Big 'n Crusty, 50% larger than its regular product and looking like a sort of dimpled Superdome modeled in dough. Brothers Murray and Marvin Lender have recently expanded their Connecticut-based chain of bagel restaurants, S. Kinder (a play on the Yiddish Ess, Kinder ((Eat, children))), into Manhattan, where they offer...
...aside $470 million to pay for losses it might sustain on the rest. While other banks, led by New York's Citicorp, announced huge set-asides earlier this year to cover losses on Latin debt, the Boston bank's move was the first time that a major lender had given up on such loans. The radical decision puts pressure on other banks to make similar admissions. That would be costly. If Citicorp were to cover its developing-country loans to the same extent, it would have to set aside an additional $4.1 billion, or more than four years of profits...