Word: borrower
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Dates: during 1980-1989
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...York City, customers with a net worth of more than $ 1 million carry out their transactions in an inner sanctum with dark paneled walls and deep-green carpeting. At least two officers familiar with the individual's finances are on hand so that the customer can borrow $500,000 for, say, a vacation home with little more difficulty than a regular depositor might have in cashing a check. When clients want to talk about long-range investment plans, officers meet them over lunch served by tuxedoed waiters in one of the bank's private dining rooms...
...accusations stem from loans granted to Butcher and the others by banks he controlled. They are charged with ille gally borrowing more than $7 million to finance an Alabama mining company in which Butcher owned a 75% interest. Butcher and his associate are also accused of using forgery and fictitious names to borrow $7.9 million for, among other things, a $400,000 yacht for Butcher. After his court appearance, the onetime Democratic candidate for Governor of Tennessee and organizer of the 1982 Knoxville World's Fair asserted, "I am innocent." If convicted, Butcher faces fines...
...have difficulty understanding how we have an economic miracle when we go into debt $679 billion in four years and then borrow more than $500 million each day to pay our bills...
...that cash is financing a large chunk of its budget deficit. Yoshino cited a light hearted suggestion by Chicago Economist David Hale that the U.S. and Japanese economies should get married. "After all," Yoshino said, "the Japanese propensity to save would help the American eagerness to spend and borrow...
...most important bits of business that Congress left unfinished last week was lifting the federal debt ceiling, which already stands at a Himalayan height of $1.57 trillion. Without a higher debt limit, the U.S. Treasury could lose its license to borrow and have a serious cash-flow problem beginning as early as this week. That prospect is unthinkable for a free-spending Government that even by optimistic Administration projections will chalk up a deficit of $166.9 billion in fiscal 1985, which began...