Word: bank
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Dates: during 1960-1969
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...BANKING. Baker got a seemingly inexhaustible line of credit through Bob Kerr's Fidelity National Bank in Oklahoma City. During 1962, Friend Fred Black Jr. testified, he and Baker borrowed more than $500,000 from Fidelity National, much of the money going to finance operations of Serv-U Corp. Through Baker's friendship with Kerr, Black said, he was able to borrow large sums. In 1962 he got one loan for $175,000 to purchase stock in the Farmers & Merchants State Bank in Tulsa, subsequently sold 1,500 shares to Edward Levinson and 1,600 shares...
...gift." Gift, shmift, sniffed Tirana-reporting that they were confiscated because the Russians had never paid the $1,700,000 construction bill for them. The Tirana government said that it finally had to settle the account itself by paying the state-owned construction company out of national bank funds...
...reversion to earlier form came on a foreign aid vote last week. Chronic optimists might argue that the defeat of a $312 million authorization for an affiliate of the World Bank shows a fervid aversion to foreign aid rather than an addiction to capricious obstructionism...
Approval of the $312 million would, according to the formula established by the World Bank, oblige the shirking Western Europeans to pay twice that amount into this fund for the underprivileged nations. The money would not be given away; it would be loaned. Although interest rates would be a little lower than on Wall Street, the other terms would approach those of commercial banks...
Much business give and take goes into the manner in which directors are picked. A bank almost certainly seeks executives of several large corporations, expecting to help handle their companies' accounts. Corporations, on the other hand, frequently seek out bankers not only for their business acumen but for the support they could give should the company encounter financial need...