<ARTICLE>                     5
<LEGEND>
     Earnings per share  represent  those for Class C stock.  Basic earnings per
share for  Classes A and B Common  Stock  are $0.15 for the three  months  ended
March 31, 1999.  Diluted earnings per share for Classes A and B Common Stock are
$0.14 for the three months ended March 31, 1999. </LEGEND>
  
<MULTIPLIER>                                   1,000

       
                                          
<PERIOD-TYPE>                                  3-mos
<FISCAL-YEAR-END>                              Dec-31-1999
<PERIOD-END>                                   Mar-31-1999
<CASH>                                         515,075
<SECURITIES>                                   1,470,241
<RECEIVABLES>                                  26,689
<ALLOWANCES>                                   0
<INVENTORY>                                    0
<CURRENT-ASSETS>                               541,453
<PP&E>                                         311
<DEPRECIATION>                                 0
<TOTAL-ASSETS>                                 2,029,223
<CURRENT-LIABILITIES>                          1,490,236
<BONDS>                                        452,153
<PREFERRED-MANDATORY>                          0
<PREFERRED>                                    0
<COMMON>                                       4,618
<OTHER-SE>                                     78,200
<TOTAL-LIABILITY-AND-EQUITY>                   2,029,223
<SALES>                                        28,035
<TOTAL-REVENUES>                               29,566
<CGS>                                          0
<TOTAL-COSTS>                                  0
<OTHER-EXPENSES>                               1,918
<LOSS-PROVISION>                                 798
<INTEREST-EXPENSE>                             24,455
<INCOME-PRETAX>                                2,395
<INCOME-TAX>                                     814
<INCOME-CONTINUING>                            1,581
<DISCONTINUED>                                 0
<EXTRAORDINARY>                                0
<CHANGES>                                      0
<NET-INCOME>                                   1,581
<EPS-PRIMARY>                                   .44
<EPS-DILUTED>                                   .42