Word: bank
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Dates: during 1960-1969
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...situation.' " Lyndon Johnson knows that the alarming rate of crime is growing in im portance as a national political issue, and that the latest FBI statistics are rather harrowing. In the first nine months of 1967, crimes in the U.S. increased by 16%, with street robberies up 27%, bank robberies 60% and murders 16%. Washington was close to the top, with murders increasing by 19%, rapes 24% and robberies 64%. Three-Hour Questioning. Granted that the statistics result partly from more efficient police detection and more careful reporting of crimes, there is no doubt the U.S. rate is climbing...
...Natural Choice. Declaring all-out war against tax dodgers, then-President Humberto Castello Branco pushed through a law making tax evasion a crime (maximum penalty: two years) and providing for payroll deductions and official inspection of private bank accounts. An economist and accountant with 22 years' experience in tax work, Travancas was a natural choice to head the program. He began by weeding out dishonest tax collectors and setting up special training programs for new recruits. To find Brazil's big spenders, Travancas' agents combed membership lists in race-track and yacht clubs, studied society columns, watched...
...American executives. As recently as 1965, according to a survey by University of Manchester Professor Kenneth Simmonds, only 59 Europeans were among the 3,733 executives in Europe for 150 U.S. companies. Now the ratio is changing rapidly. The Earl of Cromer, for instance, until recently governor of the Bank of England, is the new chairman of IBM United Kingdom. Dr. Frederick H. Boland, the man who as United Nations General Assembly President broke a gavel in 1960 trying to silence Nikita Khrushchev, is chairman of Esso Ireland. Though names help, such executives are less and less anxious...
...continued to be prosperous; its economy, the abundance of which mankind holds in awe and envy, simply fell short of optimistic expectations. Western Europe experienced its slowest economic growth in a decade-but growth, however slow, remains growth. As William Butler, vice president of the Chase Manhattan Bank, puts it: "Never have so many had it so good and felt so badly about...
Inventory drops in past years have often triggered genuine recessions. To forestall such a possibility, the Federal Reserve Board moved in its role as a monetary balance wheel. In place of its tight money policy of 1966, the Fed all year literally stuffed banks with funds. In its early stages, the massive infusion helped to keep the economic dip trivial. For a few months, interest rates fell, but as the mini-recession melted away, voracious business demand for loans reversed that trend. Corporations borrowed $16 billion through bonds and other debt securities in 1967, almost half again as much...