Word: bank
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Dates: during 1960-1969
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Stillman, a vice-president of Harvard-Radcliffe Students for a Democratic Society, told officials of the First National Bank of Boston and the United Shoe Machinery Co. that he was working on a paper about U.S. foreign investments for the Department of Economics here...
...asked the two companies for information about their investments in South Africa. Officials at the bank told him they had loaned the South African government $2,000,000 in 1963, and said they now serve as collecting agents for the American-South African wool trade. United Shoe told him they owned 75 per cent of a British firm with five plants in South Africa...
...this, Saxon remained untypically silent, though he did write the Federal Reserve denying that his men had withheld any reports that "it requested." But the revelations of friction between the Comptroller, the Federal Reserve and the Federal Deposit Insurance Corporation, all of which now divide the task of bank regulation, produced strong demands for some sort of reform. In a San Francisco speech, James L. Robertson, one of the Federal Reserve's seven governors, declared that today's "tangle of overlapping responsibilities, conflicting philosophies and procedural cross-purposes cannot be tolerated much longer." Merely "knocking heads together" will...
...them come over, but they really howl when the flow is cut back. Now that Washington has tightened up on the spending and lending of dollars abroad to close the U.S. payments gap, the cries are rising from Bern to Canberra. The U.S. has been a vast commercial bank to a capital-starved world, having pumped $25 billion abroad in the past decade, and other nations are reluctant to part with this rich source of money. Said London's Evening Standard last week: "Already there is talk of a new dollar shortage of the kind which made economic life...
Going even farther, Britain's Labor government is willing to transform the International Monetary Fund into a world central bank that would not only lend money but also create it. Though De Gaulle's call for a return to the gold standard has been roundly rejected, the French believe that they have won an important psychological battle: just about everybody wants to change the money system to give the world more floating capital...