Word: billioned
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
WEST COAST BANK MERGER will unite the California Bank and First Western Bank & Trust Co., satellite of huge Firstamerica Corp., to form giant California Bank, with $2.25 billion in resources, 165 branches...
...that it was "broadening" its open-market operations. This led many to believe that the Fed intended to buy enough long-term bonds to cushion the market; it gave courage to the market, attracted buyers back into bonds. But the Fed's purchases were limited to buying $1 billion of one-year certificates to aid the Treasury's July refinancing operation. As the effect of this wore off and hopes for more substantial assistance faded, the shock of disappointment sent bonds down some more. Last week, in raising margin requirements on stocks, the Fed signaled possible new moves...
...Recovery? The man with the most reason to be concerned about all this is Treasury Secretary Robert Bernerd Anderson. He must raise up to $12 billion in new financing this year to cover expected budget deficits, and also has to refinance $46 billion in maturing securities. This formidable financing chore comes at a time when yields on recent U.S. bonds are sharply rising. If Anderson raises the coupon rate on forthcoming issues to match the competition from older bonds, he will tend to raise all interest rates. Such a course might well nip the general business recovery. At the same...
Almost everybody had a dramatic idea about what to do. The loudest cry was for a tax cut, ranging from $3 billion to $10 billion. It came from such disparate persons as Harry Truman and Herbert Hoover, such political opposites as Americans for Democratic Action and the National Association of Manufacturers, included some members of the Administration's own family. Arthur Burns, Saulnier's predecessor, called for "massive Government intervention" in the economy through both tax cuts and public works. The auto industry asked repeal of the 10% excise tax on autos. Others suggested huge WPA-style public...
...Administration held out firmly against every such proposal, convinced that while recession was the immediate problem, the long-range problem was inflation. Now almost everybody else has come around to this view. Fortnight ago, the House killed a $2 billion public-works program that had once been a major Democratic antirecession measure...