Word: borrowings
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Dates: during 1970-1979
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...delays run up the cost of building a reactor, as does the rocketing rise in interest rates on the money that utilities must borrow to build plants. One example: the estimated cost of Long Island Lighting Co.'s Shoreham, N.Y., plant has quintupled from $300 million to $1.5 bil lion during the ten years it has been under construction. Nuclear plants now operating produce electricity more cheaply than coal-fired power stations (1.50 per kw-h for nuclear in 1978, vs. 2.30 for coal), but the cost of finishing those now under construction will be so enormous that there...
...Curran's report (a fuller version, with transcripts of testimony before the grand jury in Atlanta, remains sealed) demonstrates beyond serious challenge that no family or loan funds were siphoned into Carter's 1976 presidential campaign. More narrowly, it finds that Presidential Adman Gerald Rafshoon did not borrow from any bank in 1976 to keep Carter's media campaign alive, as some press reports had alleged. But less persuasive is Curran's conclusion that no banking or conspiracy laws were violated by the eccentric loan arrangements between Carter's warehouse and Lance's National...
...Union hired fleets of taxis to help deliver margin calls to speculators. It was common to see people rushing from their banks to their brokers with stock certificates and bonds they had just taken from safe deposit boxes. Insurance companies were besieged by people wanting to cash in or borrow on their policies...
...kinds of "cash" being developed in the world's leading consumer economy are proliferating faster than the money managers can find ways to measure them. Among other elements in this unmeasured or "invisible" money stock are the credit lines consumers get with their Visa or Master Charge cards, the borrowing they do with a second or even third mortgage on a home, and the ability of companies to borrow on a line of bank credit, in the commercial paper market or even through an overseas financing subsidiary...
...Federal Reserve's dramatic tightening of credit will in time hurt every consumer who wants-or needs-to borrow for any purpose, from paying medical bills to buying a house. Says Saul Klaman, president of the National Association of Mutual Savings Banks: "Those who need credit most will have the most difficulty getting it. That's the way it always is." As prices inevitably rise, says Charles Lehing, senior vice president of New York's Chemical Bank, the people who will have the most trouble will be those on fixed incomes. Adds Lehing: "Most of these people...