Word: bank
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Dates: during 1960-1969
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...assets of the Southern Consumers Cooperative, a Negro self-help agency launched on a shoestring in Louisiana, have risen from $25,000 to $200,000 in two years. Harlem's Freedom National Bank, which opened its doors in 1964 with an authentic black hero, Jackie Robinson, as chairman of the board, makes $25.2 million available for loans to Negroes, whom white-managed financial institutions systematically reject as bad risks. Economic status is only one of many new goals. The Negro theater, yesterday nothing more than a dream, is a flourishing reality today, with black companies and stages all over...
...other hand, was conveniently obscure or deftly evasive in his television address to the country. What particularly irked his critics was his declaration to the British that devaluation "does not, of course, mean that the pound here in Britain in your pocket or purse or in your bank has been devalued...
...that he really had not, Tory Chairman Anthony Barber exclaimed: "That confirms the suspicion of the whole country that the right honorable gentleman is a twister." The Speaker asked Barber to withdraw the remark. Some of the harshest criticism was leveled at Wilson by the former head of the Bank of England, Lord Cromer. Unlike Britain's two previous devaluations in 1931 and 1949, he said, "this time devaluation was the outcome solely of the government's policies...
...sturdy U.S. economy. With a favorable trade balance averaging $6 billion a year, the nation has run into dollar-threatening balance of payments trouble only because of foreign aid, overseas investment and the Viet Nam war. Despite all the speculation, maintained Chairman Alfred Schaefer of the Union Bank of Switzerland last week, "the dollar is strong enough to ride it out-provided that it is well defended...
...still unclear when Robert S. McNamara will step down as Secretary of Defense, why he is leaving the Pentagon for the World Bank, and whether it was McNamara or President Johnson who made the actual decision to transfer jobs...