Word: borrowing
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Dates: during 1980-1989
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...chose to attend Harvard partly because of its attractive aid package. Last year the aid office-recommended she take out a loan in addition to the grant. She managed to do without it, but says if she had taken it. "I don't see how they expected me to borrow any more this year...
Under local laws, the Panamanian firms could be started with as little as $10,000 in capital, but could be used to borrow far greater sums on world financial markets. Calvi launched at least a dozen such "shell" companies in Panama, listing employees of his Bahamas bank, including the switchboard operator, as directors and officers...
...every economist has identified as the most daunting hurdle to recovery have come tumbling down faster than al most anyone would have dared to predict a few weeks ago. The Federal Reserve Board last week dropped its discount rate, the amount it charges banks and other financial institutions that borrow funds, for the fourth time since July 19. The discount rate now stands at 10%. Mean while, the prime rate that banks charge their most creditworthy business customers has dropped to 13½%, down three points since midsummer and the lowest since September 1980; some other short-term rates have...
...staying alive by marketing the guilty secrets of its past. Summer movies have taken for their inspiration cult comic books, old TV shows, old horror and boxing movies, even old Walt Disney cartoons. Nonfiction bestsellers discreetly exploit the misery of movie stars, while Stephen King's novels borrow from E.G. comics and AIP movies. Even Broadway, long thought immune to adolescent fancies, has jumped on the trash bandwagon-at least in its musicals. Composers, librettists and directors ransack old Hollywood movies (42nd Street) and newer foreign films ("Nine"). They bow to rock 'n' roll for their subject...
...slash the runaway federal deficits that triggered crippling interest rates in the first place. Administration officials conceded last week that next year's budget shortfall will be closer to $140 billion than to the $115 billion gap they foresaw just two weeks ago. The Government will have to borrow at least $100 billion in fresh cash during the rest of 1982, and must raise $35 billion of that by the end of September. Says Irwin Kellner, chief economist of Manufacturers Hanover Trust Co. in New York City: "If you want higher interest rates, just wait a few days. They...