Word: banke
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Dates: during 1960-1969
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...observed a general commitment to help the more than 100 less developed countries that embrace two-thirds of mankind. The results have been mixed, but there have been enough signs of success to merit strong support for the experiment. Yet after a year-long study sponsored by the World Bank, an eight-member commission headed by former Canadian Prime Minister Lester B. Pearson warned in Washington last week that foreign aid is at "a point of crisis...
Both the Pearson report and a recent study by the Manhattan-based Committee for Economic Development recommend that much more aid be channeled through multilateral agencies like the World Bank; only 10% flows through such bodies at present. Another Pearson recommendation is that countries increase their aid to seven-tenths of one percent of their gross national product in five years. In the U.S., that would mean an annual foreign aid outlay of $8 billion by 1975. Even if Nixon seconded that motion, which is virtually unthinkable, there is no chance that Congress would go along...
...sales. Automakers have scheduled 7.5% fewer car assemblies for the final quarter of this year than during the same period a year ago, and Chrysler is about to lay off some of its 40,000 white-collar workers to reduce costs. A. W. ("Tom") Clausen, vice chairman of the Bank of America, predicted last week that banks will cut their prime rate from the present record 81% early next year, or perhaps even sooner. Walter Heller, the former White House chief economist, maintains that "inflation has probably now passed its peak of intensity...
There are still some things that credit cards cannot buy. So last week the Bank of America, the nation's largest, came to the aid of cash-short consumers by installing an automatic "cash dispenser" outside one of its branches in San Francisco. Anyone with a checking account at the bank can withdraw $25 simply by inserting a plastic identification card and punching a code number on a ten-digit keyboard. The machine verifies the information by means of electronic sensors, then slips the money to the customer through another slot. It keeps the card, which is returned...
...first part of the Cambridge Project proposal says, "The U. S. Government and the Department of Defense face many problems that are in large part behavioral-science problems, and they need pertinent behavioral-science knowledge for use in solving those problems." The project will include a data bank that will have terminals both in Cambridge and in Washington...