Word: borrower
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Dates: during 1970-1979
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...fairly easy to borrow from Father Harvard--interest free--while you're still an undergraduate. And if the Senate has its way, some of your parents may be able to receive up to $250 a year from the federal government, in the form of a tuition tax credit. This does not promise to be a good plan, though, because not everyone will qualify for help--i.e., lower-income folks...
...Raise interest rates to make dollar investments more attractive. The Federal Reserve moved last week, letting the Fed funds rate (at which banks lend to one another) rise from 7⅞% to 8%, and increasing the discount rate (at which member banks borrow from the Fed) from 7¼% to 7¾%. The U.S. could also try to borrow back some of the tens of billions of dollars now held by nervous foreign investors by offering them Treasury bonds paying compellingly high interest. The danger: interest rates high enough to induce investors to give back dollars might also be high...
...book was The Dark Arena, published in 1955. Despite its warm critical reception, Puzo remained obscure. Recalls his old friend, Novelist George Mandel (The Wax Boom): "My vision of Mario then? He used to go to his brother's in a taxi to borrow money for his kids' shoes. My vision of Mario still is him leaving a building, putting a cigar in his mouth with one hand and holding up his other for a cab. Same vision, rich or poor...
...Jimmy Carter signed a bill that authorizes $1.65 billion in federal loan guarantees for the city. The event possessed immense practical meaning for the Big Apple, which for two years has been creeping back from the edge of bankruptcy; the guarantees will enable New York to borrow enough money at least to start straightening out its preposterously bungled financial affairs and to repair the streets, bridges, subways and other facilities that have become dangerously decayed...
...cash, and $200 million in Peugeot stock that it could put up as collateral to get loans. Also, Peugeot will assume responsibility for $400 million owed to creditors by Chrysler's European units. Dumping that debt should improve Chrysler's credit rating, and thus its ability to borrow...