Word: crediters
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Dates: during 1960-1969
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...prodigy, Tom is a prodigious toiler who started taking college courses while still at Shawnee High School in Springfield, Ohio, trained himself to read 750 words a minute, and arrived at Wittenberg last fall having already earned 15½ of the 36 credits needed for graduation. During his combined freshman-senior year, Tom earned twelve more credit hours by taking exams in courses that he did not even attend, finished the remaining 8½ credits by the old-fashioned method of going to classes. Last week he graduated summa cum laude from Wittenberg with a straight-A average. "This...
...rarely slow, according to federal tax agents, who monitor the books. "It's a real challenge for our agents," says J. C. Muyres, Internal Revenue Service official in Las Vegas. "The houses are cash operations with no set prices. I don't know of any that accept credit cards...
...from President Nixon's chief economist, Paul McCracken. He told the convention of the American Bankers Association in Copenhagen that bankers had continued "for too long making commitments to lend," when funds were obviously not going to be in limitless supply. Because of their "tardiness" in responsibly allocating credit, McCracken charged, the bankers set back the Government's timetable for slowing down inflation...
...Kennedy sent a long-distance rebuke to some of the bankers, who had been talking freely in Copenhagen about ordering still another rise in the prime rate. Kennedy defended the latest increase but told bankers that in the future they had better "find other methods to make those difficult credit-allocation decisions." The clear warning from Treasury: No more increases. Meanwhile, the Federal Reserve Board is considering telling U.S. bankers to "voluntarily" limit their loans to the total that they now have outstanding...
Favored Customers. In the face of the obvious need to control inflation by restricting lending, the big banks have been circumventing the Federal Reserve's credit-tightening measures. To keep favored customers happy, they have even been willing to pay more for some funds than they can get by lending them out. Abroad, the banks have paid as high as 13% to borrow and bring home Eurodollars...