Word: banke
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Dates: during 1960-1969
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...first love remains the sauna bath. More than half a million families have their own private steam rooms, where temperatures rise to 275°F as the bather briskly whips his body with wet birch branches before dashing out and leaping into a frigid lake or snow bank. The sauna is said to develop the quality of sisu-a combination of courage, stamina, tenacity and stubbornness. Sisu indeed is Finland-and is perhaps the reason why it still exists...
What is more likely is some sort of federal action. Legislation now pending in Congress would safeguard policyholders against insurance company failures by providing federal backup auto insurance, much like the kind that protects bank depositors. Washington Democrat Warren Magnuson promises that his Senate Commerce Committee will turn upcoming hearings on that legislation into a "root-and-branch investigation" of auto insurance in general...
...their talents and proven leadership capabilities, the Urban League will begin this summer to seed ten "Veterans Affairs Offices" into its 81 nationwide centers. Funded at $175,000, the VAO program will help Negroes use their G.I. benefits ($150 a month for education), place them in a "skill bank," and offer on-the-job training where it is needed...
...demand for long-term credit," said Vice President Tilford C. Gaines of the First National Bank of Chicago, "is running well in excess of the available supply of money." As a result, despite Federal Reserve pressure to keep borrowing costs low enough to stimulate the economy, interest rates on corporate and municipal bonds have climbed back to a point close to their 1966 peak. As the money pinch began easing late last year, yields of Aa-rated corporate bonds dropped from September's 6.35% zenith to a low of 5.20% by the end of January. By last week...
...Spree. Businessmen had plenty of explanations for the new signs of strain, none of them comforting to would-be borrowers. Many companies, having spent so much to keep up with the economic spree of the past six years, were borrowing to replenish their coffers or pay off short-term bank loans. Says Donald C. Miller, vice president of Continental Illinois Bank & Trust Co.: "The difficulties of the money panic last fall are still so real that companies do not want to go through that again." Guy E. Noyes, senior vice president of Manhattan's Morgan Guaranty Trust Co., blames...