Word: borrows
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Dates: during 1960-1969
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Power was his problem: the two-liter, 245-h.p. Coventry Climax engine in Clark's Lotus was no match for the bigger three-liter engines that his competitors were using this year. He spent most of the year trying to beg, borrow or buy a competitive engine. But for last week's U.S. Grand Prix at Watkins Glen, N..Y, the next-to-last race of the J966 season, Jim had a three-liter of his own-a 16-cylinder, 400-h.p. BRM. Then, in practice just a day before the race, his new engine broke down...
...NATIONAL DEFENSE LOANS. They permit students to borrow up to $1,000 a year and to delay making any repayments until nine months after leaving school. Students then get up to ten years to repay-at a low 3% interest. This year, some 500,000 students are borrowing $225 million...
...investigation into a mad, futile carnival. These unthinking exhibitionists have crippled the cause they so hotly championed. So costumed Jerry Rubin, an absurd symbol of the entire childish display, waved his cocked hat and bellowed, "I object! I object!" I hope he doesn't mind if his countrymen borrow this cry to voice their opposition to his and his fellows' truly un-American antics...
Fannie Mae's new power to borrow, when added to its existing plans to do so, means that the agency may pour some $7 billion of debentures and other financial paper onto the private bond market by mid-1967, driving interest rates up considerably. The resulting mortgage money will still be limited to FHA and VA loans, now so unpopular with builders that they account for only about 15% of this year's housing. Fannie Mae's aid to housing may thus be only half a remedy...
...floated in European markets this year, and are expected to raise about $900 million in all. Meanwhile, U.S. bank branches abroad have pulled about $2 billion in lendable funds out of the money market and have sent it Stateside to headquarters. All of which leaves little for Europeans to borrow in their own money market...