Word: bank
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Dates: during 1960-1969
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...They helped arm the socialist revolutionaries of 1848. They provided the enduring arsenal of the Paris Commune in the great battles across the barricades in 1871. With such textbook examples of tactics, it was hardly surprising that the student rioters of 1968 found the paving stones of the Left Bank a prime weapon in their nightly insurrections against the Gaullist regime...
...sand bar that was a J.F.K. favorite during his summer White House days. Came evening, and she was at Father-in-Law Joe Kennedy's house for a quiet family dinner and a private screening of The Thomas Crown Affair, the story of a swinging Boston millionaire-turned-bank-robber...
...person since his defection from Russia seven years ago, but that didn't stop Uncle Sam from clamping a claim on him. According to the Internal Revenue Service, the practically peerless dancer owes $30,642.70 in back taxes for 1963. Rudi says he used his New York City bank account to deposit funds from all over the world, not necessarily money earned in the U.S. The taxmen haven't been much impressed, so Rudi is trying a new step. He says IRS overcharged him in social security deductions. And he wants $213 back...
When a U.S. bank wants to raise cash, it can sell some Treasury bonds, issue certificates of deposit, or repatriate Eurodollars from its branches overseas. If it is a member of the Federal Reserve System, it can also appeal to "the lender of last resort"-the system's discount window. The price is high. Besides paying interest, currently 51%, the bank must submit to scrutiny that is even closer than usual. As a result, only 1% of credit extended to the banks has been passing through the Fed's discount window in recent years...
More liberal use of the federal discount window, even at the rate of more than $2 billion a week desired by the Mitchell study, will mean a shift in the way bank credit is extended. It will not increase the overall money supply, just de-emphasize the Fed's buying and selling of Government securities to regulate the flow of money, which has not always been fully successful when the chips were down. It took several months during the 1966 credit crunch to improve bank lending by such means alone. "If the proposed revisions had been in effect," says...