Word: crediters
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Dates: during 1960-1969
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Henry D. Smyth, SC.D., physicist and member of Atomic Energy Commission from 1949 to 1954. It is to your unending credit that the domestic climate did not prevent you from being the sole commissioner to cast his vote in approval of the then-disputed loyalty of a fellow physicist, J. Robert Oppenheimer...
...average American family is now $4,700 in debt-an amount equal to 60% of its annual income after taxes. Americans plunged much more deeply into debt during April, the latest recorded month, when consumer installment credit grew by $744 million, an alltime monthly high. Such records discomfort many economic experts-notably including William McChesney Martin Jr.-who fear that the credit society may eventually lead to the kind of overbuilding, overbuying and overpricing that could bring on a recession...
...Personal debts continue to swell about 10% annually, and nobody expects that the economy can continue indefinitely to support such gains. The personal total now tops $264 billion, of which 70% is accounted for by mortgages. The rest of it is mostly short-term and medium-term installment credit...
...Columbia University alumni luncheon, "we find disquieting similarities between our present prosperity and the fabulous '20s." Then he listed a dozen similar ities, including virtually uninterrupted progress for seven years, a large in crease in private debt, a continuous growth in the supply of money and bank credit, weakness in the balance of pay ments. "And most importantly," added Martin, "then as now, many Government officials, scholars and businessmen were convinced that a new economic era had opened, an era in which business fluctu ations had become a thing of the past, in which poverty was about...
...America and Spain. In 1962 he landed quite a client: Ramfis Trujillo, playboy son of the assassinated Dominican despot. Though at least one big Swiss bank had found Trujillo's millions too hot to handle, Munoz channeled the funds into two banks that he controlled, the Swiss Savings & Credit Bank of St. Gallen and the Geneva Commerce & Credit Bank. To invest the Trujillo hoard without attracting attention, Munoz set up obscure financial companies in such places as Liechtenstein and Panama, also opened or bought banks in Rome,' Beirut, Andorra and Luxembourg...