Bush left holding tab for thrifts rescue bill
Regulators faced a $38 billion bill for rescuing 217 savings institutions in 1988 with estimates up to $112 billion. Congress and incoming President Bush face how to pay, as regulators warn the crisis may burden taxpayers. FDIC banks rose. FSLIC remains insolvent. most aid relies on long term revenue commitments.
MENTIONED IN THIS ARTICLE
Washington
Congress
George Bush
Federal Home Loan Bank Board
S&l
Senate
Bob Dole
Kansas
General Accounting Office
Treasury Department
FDIC
Federal Savings and Loan Insurance Corp
FSLIC
Sunrise over Saragosa Cemetery One Year After Tornado
Silhouetted tombstones glow at dawn in Saragosa as residents mark one year since the deadly tornado that devastated the small farming town. Residents recall losses, rebuild plans, and community resilience amid memorials and local gatherings.
Rio de Janeiro New Year Boat Capsize Claims Dozens
A double decked cruise boat carrying revelers capsized near Copa Cabana Beach killing at least 51 with 131 listed on board in an incomplete manifest. Officials blamed overcrowding and coastal currents while survivors recalled life jackets were scarce and a crew refused a coast guard order to return to port.
MENTIONED IN THIS ARTICLE
Rio DE Janeiro
Brazil
Copacabana Beach
Coast Guard
Plinio Donadio
Gustavo Blanco
Sole Mar
Reser
Boat capsizes off Rio de Janeiro amid excess capacity concerns
Six rescue boats and divers recovered bodies from the sunken Bateau Mouche as officials pointed to overloading as a likely cause. Maj Oldemiro Santos of the Rio de Janeiro state Fire Department Maritime Group cited unclear survivor numbers while Col Jefferson Cardoso de Bem, head of the Maritime Group, noted victims were taken to homes and hospitals across the city.
MENTIONED IN THIS ARTICLE
Oldemiro Santos
Rio de Janeiro
Col
Jefferson Cardoso de Bem
Maritime Group
1989 Begins With Hope Amid Global Crises And Greetings
The year opens with disasters and conflict from Peru earthquake to Brazil ship capsizing funding. Reagan and Gorbachev extend greetings while El Salvador seeks peace. Korea signals tentative outreach as Afghanistan and Lebanon resume fighting. Pisa tower tilts more, Castro vows socialism or death.
MENTIONED IN THIS ARTICLE
Peru
Brazil
Reagan
Mikhail S. Gorbachev
el Salvador
Korea
Afghanistan
Lebanon
Times Square
New York
Italy
Tower of
Pisa
Havana
Fidel Castro
Clean up begins after dike bursts
Residents in Utah and Arizona begin cleanup after a 12 foot Virgin River flood from a breached earthen dike 15 miles east of St George. About 1,500 people evacuated and I 15 closed as 50 to 60 homes and 100 apartments were flooded in Utah while three homes were flooded in Littlefield Arizona. No injuries were reported. The dam was under four years old and had seepage history. Sirens prompted evacuation just after midnight with some residents misreading it as New Year.
MENTIONED IN THIS ARTICLE
ST. George
Utah
Virgin River
Here
Littlefield
Ariz
Sherri Hansen
Bloomington
Law changes touch Medicare and pensions
Washington report outlines major federal law shifts at year start. Expansion of Medicare to cover catastrophic illness now assists 32 million beneficiaries, with a once yearly deductible cap. Faster pension vesting and tax changes reduce government subsidies, while new protections target private employers and landlords. Environmental rules aim to cut CFC production to 1986 levels, affecting consumer goods.
MENTIONED IN THIS ARTICLE
Washington
Environmental Protection Agency
Congress
Reagan
Also Mentioned on This Page
Bush
Thrifts
Dole
Abc-Tv
David Brinkley
S&ls
Federal Deposit Insurance Corp
Odessa American
Mark
Pecos
Rio
The
Associated Press
Medicare
Business Review
Abby
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