Word: creditors
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...such chronic debtors, many psychiatrists detect a glint of masochism. "Consider the language of debt," says Manhattan's Dr. Harold Greenwald. "People have to 'beat someone out of his money,' or debtors are 'pushed to the wall' by their creditors." One of Greenwald's patients wept after he paid off his last creditor; he felt as if he were leaving someone who needed him. San Francisco's Dr. Alfred Auerback believes that overwhelming debt creates enormous tensions and strains within families. "Young people today," says he, "assume they should have...
Black adopted Florida's suggestion that "since a debt is property of the creditor, not of the debtor, fairness among the states requires that the right and power to escheat the debt should be accorded to the state of the creditor's last known address." All this takes is a look at the company books. Though "not entirely one of logic," said Black, Florida's escheat rule is easiest to apply and will save countless court fights in the future...
...having trouble with its foreign policy, it is largely because of its limping economy, writes Myrdal. The U.S. cannot persuade its allies of its policies because of its continuing balance of payments deficit. Some leadership is passing to the creditor nations of Europe-an ominous trend, thinks Myrdal, since he believes that democracy is not so firmly grounded in France, Germany or Italy...
...plan differed from conventional programs by "reversing the burden responsibility" for development "from creditor to debtor country...
...basic concepts was that he could profit by handing out presents-a car, a suit of clothes, a thousand dollars in cash-since the recipient would be under an obligation to do him future favors. Another notion was that when a debt gets big enough, the creditor acquires an interest in the survival and prosperity of the debtor. "If you get into anybody far enough," he often said, "you've got yourself a partner."* Estes got far enough into Commercial Solvents, a New York chemical manufacturer, which did become a sort of partner. It was this partnership that enabled...