Word: borrowers
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...been undermined by Deputy Secretary of Defense David Packard, who turned up to testify armed with a raft of charts and diagrams showing Russia's growing threat as an 1CBM power. When he had finished explaining them with the help of a pointer, Senator Albert Gore asked to borrow his "wand" and produced some homemade charts of his own. The resulting debate on "overkill"-nuclear capability beyond that needed to assure the total destruction of an enemy-turned primarily on the difficulty of determining a nation's future offensive capacity. Packard stuck to his estimates. He admitted, however...
...billion in February to a record annual rate of $491 billion. Most of that jump came from substantial wage increases, which spur businessmen to invest in labor-saving new facilities and equipment. Beyond that, says John R. Hunting, president of Philadelphia's First Pennsylvania Banking & Trust Co.: "Borrowers feel that inflation is here to stay and that it's better to borrow now than later...
...loans are becoming almost unavailable because of the low ceilings on interest rates set by usury laws. Margin loans for stock purchases are drying up in such places as Vermont and New Hampshire. In Michigan, which has a 7% usury limit, unincorporated businessmen and partnerships can no longer legally borrow at a rate that lenders will accept. Illinois lenders shun home loans because of the state's 7% ceiling; now the legislature is moving to up the limit...
...team rented some untrained local horses and attempted to play on them. Faced with the prospect of dodging swinging mallets and each other, the rented ponies panicked. One or two survived several practices before actively resisting, but an alternative had to be found. "Beg, borrow, or steal," said President Hibberd V. B. Kline III '69, an aristocrat in the old tradition...
...agencies; it treasures its independence from President, political parties and pressure groups. Martin and the six other governors of the Federal Reserve manipulate the levers that control the nation's money supply and interest rates. Today, as a result of their actions, money is tight and costlier to borrow than at any time since the Civil War. To their distaste, bankers have to turn down customers seeking loans; businessmen have to put off some projects because credit is so expensive; brokers watch helplessly as investors shift out of stocks into high-yielding bonds; customers have to pay more...