Word: put
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Dates: during 1990-1990
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Like Tom Wolfe's The Bonfire of the Vanities, London Fields should excite the love-it-or-heave-it reflex. Those whose sensibilities were tousled by Wolfe's rough treatment of New York City will be put off by Amis' pitch-black satire about the other sagging capital of the English-speaking world. But those who found Bonfire's incendiary social commentary amusingly accurate should spontaneously combust over Amis' latest export...
...banks cut off credit two weeks ago. The parent company, starved for cash, began to siphon money from the investment firm's coffers until Government regulators halted that maneuver. After a frantic search for a bank bailout or a merger partner, directors of Drexel Burnham Lambert Group agreed to put the company into bankruptcy proceedings...
...markets could weather the collapse, in part because junk bonds were already trading near all-time lows. Said an embittered Drexel executive: "What we needed was a pittance, and the Government decided just to let the company go. With a little nudge from the Government, the banks would have put a package together...
...lining up for their share of the money to be made from the wreckage of the '80s. Observes Robert Reich, professor of political economy and management at Harvard's Kennedy School of Government: "Much of the impetus behind the leveraged buyouts was to bust up companies that were frantically put together in the '70s. Many times it was the same investment bankers and lawyers who then proceeded to take them apart in the '80s. In the '90s these same teams will work on reducing debt loads to strengthen core businesses...
West German officials have presented a strong defense of their motives and tried to put down the fears emanating from East and West. "We are aware of the historical dimension of this process," Genscher said in Ottawa, and that includes "remembering all the suffering inflicted on other nations in the name of Germany. We seek unification in the context of integration in the European Community, East-West partnership for stability, the building of a common European home and the creation of a peaceful order throughout Europe." Genscher joined with Shevardnadze in quoting Thomas Mann: "We seek a European Germany...