Word: cdc
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Dates: during 1960-1969
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...Georgia Plan permits loans even to people who can offer no security at all. To circumvent banking regulations that prohibit such lending, Citizens & Southern set up a subsidiary called Community Development Corp. and capitalized it at $1,000,000. CDC approves the risky loans and advances the down payment if a customer cannot. Then Citizens & Southern steps in with the balance, and the down payment is handled as part of the total loan. Normal interest rates are charged, but the terms can be adjusted so that the borrower can meet his installments, which are usually no more than the rent...
...Whisky. Business loans go only to those who show an ability to manage enterprises that promise to benefit the community. Thus CDC turned down applications for liquor stores and a hippie-trinket shop. Instead, it put Savannah's first Negro used-car dealer into business and financed dry-cleaning shops, groceries, beauty parlors, even a small firm that manufactures porches for mobile homes. Thus far, $1,000,000 has been distributed in loans ranging from $2,200 to $25,000. Another $1,000,000 went to the biggest slum landlord in Savannah, a Negro. The money will...
Ward said that some members of his committee had objected to IBM computers on the grounds that they are too complex, and not helpful in doing research Dean Ward said that the CDC was "a beautiful computer," but that the IBM model had more business processing capabilities...
Already some of the leaders of the "New Politics" like Gerry Hill, chairman of the California Democratic Council (CDC--the NDC chapter in California), has adopted much of the rheteric and style of the politicians whom he seeks to replace...
...machine states like Illinois, New York, and New Jersey, however, CDC-type groups are ineffective. The liberals must either work within the old party structure to take it over--not build a stronger parallel structure within the party as in California--or give up and form a new party. This hasn't been very effective in the past because liberals, whether because of their suburban anti-partisan phobia or for some other reason, continually shy away from the drudgery of precinct-leaderdom. In Pennsylvania and New York significant reform groups have risen many times, but they never worked long enough...