Word: bearer
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...addition to making U.S. securities tax-free for foreigners, the Treasury is also considering issuing so-called bearer bonds, which can be bought anonymously. As of now, investors who buy U.S. Government securities must supply their names and addresses, and no one else can collect interest on the bond. Interest on bearer bonds, in contrast, is paid through coupons that are attached to the bond. Anyone who presents one of the coupons can receive the interest. Bearer bonds, which have traditionally been issued by many European governments and companies, are popular with investors eager to avoid the scrutiny...
Several members of Congress, including Republican Senator Robert Dole of Kansas, are concerned that issuing bearer bonds would mean that some Americans would evade taxes by buying the securities through foreign sources. West European governments have informally urged the U.S. not to resort to bearer bonds. Admits a Treasury official: "Going to that kind of bond might be seen abroad as an admission that we can't finance our own deficit...
...greatest risk from the withholding-tax repeal and the sale of bearer bonds is that the U.S. will grow even more dependent on foreign capital. For decades, America has been a creditor to the rest of the world. But the U.S. may soon owe foreigners more than they owe the U.S. Says Roger Kubarych, senior vice president of the New York Federal Reserve Bank: "By next year, the U.S. could have a net debt of $50 billion...
...pick girls just on the way they look.' I'm in show business, folks. I don't give a damn about the rules. This is a show. I'm putting on a running event. You look good, you can't be an Olympic ard bearer." As it happened, they not looked good, they done good...
...whose signs usually dot Democratic gatherings seemed conspicuously absent: labor. Union backing was critical to Walter Mondale's success. But except for a march near the hall before the convention opened, labor leaders lay low in an effort to help Mondale shed his damaging image as a captive bearer of the union label. Said Mary Hatwood Futrell, president of the 1.7 million-member National Education Association: "We did not want to give the appearance of domination...