Word: borrower
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Dates: during 1970-1979
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...That the crop-support loan rate be raised from $1.75 a bu. to $2 for corn. The loan rate is a Government-set floor price for grains, used by farmers when they borrow money with their crops as collateral. The proposals do not change the loan rate for wheat (currently $2.25 a bu.). Instead, the Administration increased the "target price" from $2.47 to $3. When market prices fall below the target, Washington will pay out the difference between the loan rate and the target figure-that is 75? per bu. Total cost of the program: $4.4 billion...
...majority share of the stock in his own bank. Federal law forbids banks to make such loans to their own officers, lest unscrupulous bankers use depositors' money to enrich themselves; but the law is silent about stock-purchase loans to correspondent bankers. Yet if a banker cannot borrow money from his own bank to buy its stock, why should he be allowed to borrow from a correspondent bank for the same purpose? It is clearly time for a new law that would shift the burden of proof, and forbid big banks to make personal loans to officers...
...Georgia he was Jimmy Carter's friend, sharing his triumphs, helping him borrow money for his peanut warehouse. As a New South go-go banker, he made himself a millionaire, and he was one of the first men whom Carter appointed to a Cabinet-level position. Now the director of the Office of Management and Budget-who cruised around Washington during Inaugural week in a black Cadillac bearing special license plates with BERT on the front bumper and LANCE on the back-might be the first man to go. Last week Bert Lance was rapidly becoming an embarrassment...
...rate increases won in the past 2% years. (Con Ed's electricity rate, now 10.10 per kilowatt-hour, has doubled since 1972 and is 17% above the national average.) More important, the $600 million brought in by sale of the two generating plants eliminated the need to borrow for improvements for some time. The $1 billion or so that the company plans to spend on new plant and equipment over the next three years will be financed entirely out of earnings; this will leave sufficient money in the Con Ed till to continue paying quarterly dividends, which were resumed...
...sluggish exports?threatens the long-term solvency of a nation vitally dependent on foreign trade. To make up for a record $4.3 billion budget deficit last year, the government had to draw on reserves (now down to $4.5 billion from a peak of $6.7 billion in 1973) and borrow heavily abroad...