Word: banke
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Dates: during 1960-1969
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...father had gone broke trading cotton, so Lyndon arrived on campus with just $75 borrowed from a Blanco bank and began earning $15 a month as a janitor. Yet board and room cost $30 a month. The school's kindly president, Dr. C. E. Evans, let Lyndon put a cot in a small room above Evans' garage. In return, Lyndon became Evans' long-striding legman, running errands all over campus. By eating just two meals a day, Lyndon cut his food expenses to $15 a month; his laundry cost 50? a week. When Lyndon ran short, Evans...
...International Monetary Fund is a specialized agency of the United Nations that has 102 member countries, acts as a sort of central bank of the national central banks. The IMF oversees the world's supply and flow of gold and currencies, recommends ways to promote financial stability and serves as a meeting ground for both the prosperous and the developing nations. Armed with $16 billion in gold and currency pledged by its members, the IMF stands ready to grant loans to nations in financial crisis, be it from inflation or balance-of-payments deficits. Its meetings: once a year...
...Basel Club is a gathering of the central-bank governors from the same ten nations, plus Austria and Switzerland. The club grew out of the regular meetings in Basel of the semigovernmental Bank for International Settlements (BIS), which arranges short-term credits for central banks. The central bankers make a three-day weekend of it, gathering two days ahead of the BIS meeting for a round of closed-door talks to inform and advise each other on monetary problems and plans. IMF Managing Director Pierre-Paul Schweitzer calls the exclusive group the "best club in the world." Meetings: once...
...July morning in 1892, a tug chugged up the Monongahela, towing two barges with a deadly cargo: 300 pistols, 250 Winchester rifles and a hired army of 316 Pinkerton men. Where Andrew Carnegie's Homestead mill sprawled along the south bank of the river, the barges beached. That was enemy territory, defended by a cannon, spiked clubs, small arms, and a force of strikers 10,000 strong. Hostilities began at once. One fusillade from the barges dropped 30 defenders, but not one Pinkerton got ashore. Homestead's striking mill hands had won the opening skirmish of a labor...
...course, the General Plan additionally calls for the rehabilitation of some 32,000 units, but here again the poor will benefit least. Rehabilitation consists of encouraging people to improve their own houses with the aid of bank loans insured by the Federal Housing Authority and, thanks to 1964 legislation, some direct federal loans. The process itself is lengthy. As one observer said, "The FHA places each request in a bureaucratic labyrinth so involved that approval come only after endless delay." Despite much local prodding, banks and, to a lesser extent, the government still remain reluctant to grant loans...