Word: bank
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Dates: during 1960-1969
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White working-class students usually have less trouble, but even for them life can be a grind. Marilyn Masiero, 25, who will receive her education degree from New York University in January, has taken several bank loans, worked summers, weekends and Christmas vacations, is now an apprentice teacher in a Harlem public school. "You die of anxiety every year until that scholarship letter comes," she says. "If you go out on a date, you borrow the clothes. You have a pair of shoes and a pair of sandals, and you wear the sandals till November. For Christmas gifts...
...Snarr Advertising had moved to Salt Lake City, boasted assets of $3.5 million, annual revenues of $800,000. Then the Beautification Act was passed. "My heart sank," Snarr recalls, "and the next week my bank called in a loan...
...freak performance by volatile statistics, the rate of housing starts may dip below 1,000,000 by year's end. "We are facing the worst housing shortage that we have had since the end of World War II," says Walter Hoadley, executive vice president of California's Bank of America. "The crisis is going to get worse...
...Nixon Administration has tried to cushion housing from the impact of tight money. The Federal Home Loan Bank Board has lent nearly $4 billion to savings and loan associations. The Federal National Mortgage Association, which is privately owned but Government-controlled, has become the principal source of funds for Federal Housing Administration and Veterans Administration loans. But money is so scarce that average private mortgage rates have risen from 6.4% two years ago to 8.1% now. Many borrowers must pay 81% or even 9%. Though the rates may fall a bit next year, they will probably stay high by historical...
...economics, he has been in and out of government service for more than a third of this violent century. As everything from ambassador to special consultant and Assistant Secretary of State, he watched how power was actually used in a variety of crises from the 1933 bank holiday to the Cuban missile showdown. Despite the old American distrust of all power, he believes that our current social ills are eliciting new assertions of power, and that its nature should therefore be better understood. His own attack on it is as systematic and undaunted as any book since Machiavelli...