Word: credit
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Dates: during 1980-1989
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...District employee Charles | Lewis was selling drugs from his room in a downtown hotel were about to attempt an undercover drug purchase, but they abruptly departed after being informed that the mayor was visiting the suspect. A subsequent search by police of Lewis' room, which was billed to the credit card of a Barry aide, revealed traces of cocaine, though investigators could not determine how long the drugs had been there...
...CREDIT: TIME Chart by Joe Lertola...
...loss of revenue from one of their most expensive options: collision insurance. Until recently many car-rental customers paid as much as $13 a day for so-called collision-damage waivers to protect themselves against liability for any repair costs in case their vehicles were damaged. But many major credit-card companies now offer such coverage to their cardholders at no cost whenever they charge a rental. As a result, more and more consumers decline the pricey waivers. In the most sweeping move so far, American Express began offering the collision coverage last week to its more than 11 million...
...soon, the financial markets will lose confidence." Says Melton: "In principle, this can be done with such awe-inspiring precision that the economy slows down to a growth rate of exactly 2% and inflation starts to slow. But as a practical matter, it rarely works out." If credit is too tight, the resulting interest- rate run-up could trigger a recession. And if the Fed allows inflation to quicken, the markets will grow panicky and the dollar could grow shakier...
...CREDIT: TIME Chart by Cynthia Davis...