Word: bankes
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...Harvard Corporation is reneging on even the smallest concessions it made in last spring's decision on Harvard's South Africa-related investments-concessionswon by the voices and actions of thousands of members of the Harvard community. Specifically, Harvard continues to own bonds in Manufacturers Hanover Trust, a bank whose policy is to loan money to the South African government, despite Harvard's promise to divest itself of bonds in banks that have such a policy. The contradictions are as follows...
...apply in practice"; the report goes on to say that Harvard therefore opposes all loans to the South African government. Yet Manufacturers Hanover's policy is to continue making loans to the government which will, "in (their) judgement, generate improved circumstances for the whole population of the nation." The bank has not made any such loans recently because of "risk factors", but its policy is clearly to continue making such loans...
This means that if the South African government is pressed for cash, Manufacturers Hanover will obligingly give them all the time they need to repay their loans. Surely the bank could insist that the government repay on schedule--the government would not dare default. Yet Manufacturers Hanover, rather than putting pressure on the apartheid regime by withholding loans, helps that regime out of a tight spot--a role that U.S. banks have played for far too long in South Africa. The University claims to oppose such behavior by banks--yet now we find members of the Corporation trying to justify...
...newly created dollars find their way overseas and are sold on the money exchanges for other currencies). Officially, at least, the Fed agrees. It has been trying to move interest rates up enough to discourage borrowing, so that it will not be under pressure to add so much to bank reserves in order to meet the demand...
...million present value of his investment. Of course, since he bought much of the land and many of the machines when prices were lower, his return on original investment is substantially higher; nonetheless, in theory he could enjoy a larger income by selling out and putting the money in bank certificates of deposit paying around 9% interest. Such profits on even the most efficient farms are too meager to interest big corporations. The fears that the family farm would be taken over by "agribusiness" have proved unfounded. Corporations with more than ten stockholders account for less than...