Word: borrowers
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...required brokers to set aside capital to cover 10% of the market value of stock snagged in failures to deliver that are 40 to 49 days behind schedule and the penalty rises to 30% on "fails" that go 60 days or more uncorrected. Some firms have been forced to borrow to satisfy this requirement, and high interest charges eat further into profits. For Philadelphia's Drexel Harriman Ripley, Inc., for example, interest paid on borrowed money amounted to 13% of gross revenues in the first half...
...investors. The rationale is that considerable uncertainty about the future course of the economy is necessary to erase the nation's deep-seated inflationary psychology. As long as people persist in believing that economic growth is perpetual and price rises are inevitable, they will continue to buy and borrow in order to beat still further increases. Once people begin to doubt that "good times" will last forever, the theory goes, then everyone will become more cautious in his buying decisions, demand will slow down-and prices will taper off. This effort to conquer euphoria has at last succeeded...
...nine-month stay. In this translation of his absorbing though frequently perfervid text, Maziere describes discoveries that seem to open a crack into the heart of the prehistoric puzzle. In doing so, however, he had inadvertently generated another mystery: were the discoveries made by Maziere, or did he borrow some of his facts from Father Sebastian Englert...
...card craze has spread as banks have intensified attempts to expand in the consumer credit field, which can be enormously profitable. Banks often earn a true annual interest of 18% on merchandise charged on the credit cards, and 12% to 24% on the "instant money" that a customer can borrow upon presenting his card at the bank...
...lending, the big banks have been circumventing the Federal Reserve's credit-tightening measures. To keep favored customers happy, they have even been willing to pay more for some funds than they can get by lending them out. Abroad, the banks have paid as high as 13% to borrow and bring home Eurodollars...