Word: bonding
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...that institution--the Federal Government--that New Yorkers quite correctly look for aid. President Ford, despite his foolhardy rhetoric, mistaken economics and quite un-Republican belief that welfare checks are more important than bond coupons, is not entirely misguided. Clearly, to give New York outright the help it requires would simply encourage other cities to take the same route of overspending. The waste in New York's budget is indefensible, and no-strings-attached aid will not help the city excise the triple cancer of patronage jobs, greedy municipal unions and a welfare system that is well-nigh...
Dick Netzer, a member of board of directors of MAC, and dean of New York University's graduate school of public administration, told a standing-room only audience in Emerson Hall that failure to provide such a loan guarantee "would convert state and municipal bonds into assets with a real degree of risk," causing many "risk-averters" to leave the bond market, depressing bond sales...
Just because this particular play is destined for the dustbin does not mean that a varied season containing such up coming plays as Bingo, by England's Edward Bond, about Shakespeare's final years back in Stratford; Abigail Adams, Second First Lady, by Edith Owen; and The Last Meeting of the Knights of the White Magnolia, by Preston Jones, about a lunatic-fringe group from Texas, may not provide some aesthetic rewards. To take a risk is the regional theater's brand of courage...
...since the Thirties, Simon and the Ford Administration are concerned not with the billions of dollars of potential GNP going unrealized, but with the possibility that financing the large federal deficits this year and next will contribute to future inflation and crowd out private investment. Regrettably, this Wall Street bond-broker's per-spective ignores recent history: it was the paranoia about inflation common to Ford, Simon and Federal Reserve Chairman Arthur Burns in 1974 which led to the excessively tightened money supply that slid the country into the 1974-75 recession...
...WILLIAM SIMON, ever-resourceful, has a new wrinkle called "the profits depression," to explain the imminence of a capital crisis. There are three ways in which businesses acquire capital for plant and equipment expansion: they retain earnings or profits, they sell stocks, or they sell bonds. Over the past ten years, according to Citibank's Wriston, business has gone increasingly into debt (sold bonds) to finance its expansion; and the capacity of the bond markets is narrowing. Thus companies will have to look more and more to the stock market and to retained profits for capital sources. This, of course...