Word: borrower
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Dates: during 1970-1979
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...televised interview of January 4, President Nixon was asked what he would do if our "Vietnamized" Saigon allies were to falter in the course of American withdrawal. His reply: "... I am simply not going to borrow trouble by saying I expect them to fail. I don't think they will...
Hope Against Hope is Nadezhda Mandelstam's recollection of the four years during which she and her husband wandered as nonpersons through the small cities and towns of Russia. They were harassed by officials, plagued by spies, kept from steady work and forced to borrow, beg and live in the corners of cold rooms. Their constant companion was the realization that they could be arrested at any time for any reason. "Give us a man and we will make a case" was a big office joke among the secret police...
Carli's third move was stunningly simple. He bolstered his country's balance of payments by replacing Italy's depleted store of monetary reserves with dollars borrowed by state-run and private corporations from private banks in Europe-a step that no one had thought of taking before. Other countries with basically sound currencies can well adopt the same technique when they are faced with temporary capital outflows. Because the government guaranteed repayment of the loans and the country was considered a good risk, Italian firms got a plentiful supply of money at favorable rates. Carli arranged...
...famous Kennedy struggle for first place was sometimes touching. Sensing a lapse in his early education-unlike Jack he had never been bookish-he was rarely without a book in his later years, as if he were required to pass his own course in self-improvement. He would borrow Jackie's Plutarch, a gift from Lowell, peruse the biographies Lowell had marked for her to read-and then himself mark some for her. "Bobby," says the poet, "was very conscious of the nobility and danger of pride and fate," one of Plutarch's overriding concerns...
...went bankrupt. The Penn Central had long been a victim of mismanagement and executive infighting, but it was pushed right off the tracks by its inability to refinance $152 million of its commercial paper. Such paper is a form of unsecured, short-term IOU. When money became difficult to borrow from banks, scores of corporations issued commercial paper to raise funds. Because such securities are usually bought by other companies that have spare cash to invest, a series of defaults could have spread financial shock waves throughout the U.S. business community. The Penn Central debacle caused well-founded fears that...