Word: banke
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Dates: during 1960-1969
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KALEIDOSCOPE. Love and larceny in the casinos of Europe. Warren Beatty makes the scene as a rich American playboy with a surefire method for breaking the bank, and Susannah York is the breezy British bird who helps him spend the loot...
...East-West tensions, announced a dramatic liberalization of trade with Moscow and the satellites, removing hundreds of items from the list of goods that American businessmen have been prohibited from selling the Communists. Among them: machinery and equipment, whose purchase is to be financed by the U.S. Export-Import Bank, for use in the Fiat automobile factory in Togliatti. There may yet be a Ford in Ivan's future...
...World Bank President George Woods pleaded with the rich to quadruple their contributions to I.D.A. from $250 million to $1 billion annually. "The development effort," he said, "is faced by a crucial finance gap-the difference between the capital available and the capacity of the developing countries to use increasing amounts of capital effectively and productively." U.S. Under Secretary of State George Ball, who is on the verge of retirement, replied: "No nation, when it is confronted with a serious balance of payments deficit, can afford to see the funds it transfers work their way through the international monetary circuit...
Gloomy Diagnosis. The other great subject for discussion, aid to underdeveloped countries, got a gloomy diagnosis from the financiers in Washington. The World Bank and its offshoots, the easy-loan International Development Association and the private enterprise-oriented International Finance Corp., have made a grand total of $11 billion in loans in 20 years. The needs are growing and the resources diminishing. The growth rate of the underdeveloped countries has already fallen from 5% a year in the last decade to 4% now. Tight money, high interest rates, inflation and payments deficits make it harder for the rich countries...
Though Francis Vollmer religiously repeats "I am a banker" 50 times every day, he only begins to get rapid promotions after the bank president has exposed himself on two separate occasions before Francis' wife. When the bank president commits suicide, Francis is so close to the top that he can hush up the scandal with his left hand while his right hand is slipping $450,000 in crisp bills into manila envelopes destined for a Swiss numbered account...