Word: borrower
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Dates: during 1980-1989
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...Buenos Aires to care for two young girls. Her job is to teach them to be ladies, not women, in a landowner's household where grandmama sorts her old photos into two piles: "alive" and "dead." The family may as well be dead. They disdain their own culture and borrow Britain's; they ignore the dust clouds of rebellion kicked up by Juan Peron's followers. The mood is languorous, but the snake of sensuality curls under the loose garments of the ruling class. When Miss Mary, out of pity and passion, takes the girls' handsome older brother...
...federal Guaranteed Student Loan (GSL) program, but the package of proposed changes in GSLs would only exacerbate the problem of student indebtedness. Reagan's budget would increase the loan ceiling to $50,000 and to adjust repayment of loans to income levels. However, students would also have to borrow money at market rates and to begin paying interest as soon as they take out loans, instead of being forgiven interest until graduation. The bottom line is that students will graduate much further in debt. Even adjusting repayment to income levels--while a positive step--only delays the debt burden...
...Administration's response? Allow students to borrow even more and cut federal subsidization of educational expenses further. Under current loan programs, the government pays the interest on loans while students are still in college and subsidizes that interest rate after graduation. No more, if Reagan and Bennett have their...
Under the new program, which will apply to all but the neediest, students will be able to borrow more money--up to $50,000--but at market rates. Worse, they must begin paying interest the day they receive their loans. Compared to the present inadequate programs, this new one is little better than loansharking with a human face...
...late 1970s, using them primarily as a financing tool for companies that were too small or unproven to issue investment-grade bonds. In early 1984 Milken began using the bonds to finance takeover bids. Until then virtually the only way to raise money for a corporate raid was to borrow the cash from banks, which often attached too many strings. Milken was able to raise the billions necessary for a mega-deal by assembling a network of high-rolling investors whom he could call upon to buy junk bonds, or to promise to do so, at a moment's notice...