One year after 'Crash' banks again on thin ice
1988 1988-11Read it in the scan (PDF at ETOL), page 1 →
Read from the scan by machine and not corrected: expect misread words, and now and then a caption or a line from a neighbouring story. For anything you quote, read the scan.
Scan page 1
The Palestinian uprising, 1 ada, has not waned 1 months despite stepped-up Israeli brutality.
One year ago, the stock market nosedived. On the surface, the U.S. economy seems to have recovered since that time. Recent reports indicate that the nation's commercial banks are again making hefty profits.
But it doesn't take much digging to see that the U.S. banking system is actually under extreme and growing strain. The savings-and-loan (S&L) system, for example, is on the brink of collapse.
"The S&L mess is the biggest financial debacle the United States has faced in decades," Business Week (Oct. 31) notes with alarm. "About one-third of the nation's 3000 thrifts are in the red, and the industry is hemorrhaging at the rate of $1 billion a month."
The economic advisers for the ruling rich have even more reason to be anxious. The giant corporate takeover bids of the past months have provoked a burst of speculative frenzy that could once again bring Wall Street to the breaking point.
In the first nine months of this year, 4813 mergers and acquisitions, worth $366 billion, have been launched or completed. This compares with 4082 transactions, worth $249 billion, during the same period
----- pull-quotes -----
Midwest farmworkers, See page 5.