Word: borrowings
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Dates: during 1970-1979
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...example: a man about to go bankrupt owns a car worth $800. Because its value exceeds the allowable exemption, the car would normally be seized. A clever bankruptcy lawyer could avoid that by arranging for his client to borrow $800 from a finance company, using the car as collateral. If this is done, the car has no value except to the holder of the mortgage-i.e., the finance company-so it will not be taken away. To protect the borrowed $800, the client then deposits it in an S and L account, which is exempt from seizure. After being...
...return of the abuses and inefficiencies of the Post Office, which was inflexibly bureaucratic and ridden with politics. The virtue of a Government corporation is that it can make appointments on the basis of merit alone, transfer funds as it thinks best without bureaucratic controls, and plan ahead and borrow money for modernization...
...year's budget and pull next year's revenues into the current budget-all by a stroke of a dexterous pen. To help balance the 1974 budget, for example, the city moved up water billings by six months. In the following year, of course, it had to borrow to make up the deficit...
...issues of stock in utility companies became almost impossible to sell after New York's Consolidated Edison omitted its 45?-per-share dividend for the second quarter of 1974. To raise the capital that it constantly needs to maintain and expand power grids, the industry had to borrow at interest rates as high as 12% on bond issues and bank loans...
Daly and Schmidt were notably tight-lipped about their memos. Daly saying only: "If this raw material is the best The Crimson can beg, borrow, or steal, then I feel sorry for its readers...