Word: debt
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Dates: during 1950-1959
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...right people. The fee for this graft was high, but well worth it. The Politicians used to overassess business property in order to lower the tax rate, and then grant wholesale abatements. The voters are impressed with the low rate, but the city cannot meet its expenses. The debt has mounted up through the years to over $100 million. Although the Board of Assessors' new chairman, David L. Driscoll, has largely eliminated this racket, and Hynes has retired a small part of the debt, the deficit is still large...
Suddenly, two private companies got interested in Merl Young's talents. One was the Lustron Corp., the fabulously unsuccessful housing company; the other was the F. L. Jacobs Co. of Detroit, an auto-parts concern which also made washing machines. Both were in debt to the LFC at the time. Lustron hired RFC Examiner Young to be a vice president at ?i 8,000 a year. Without bothering to tell Lustron, Young simultaneously took a $10,000-a-year post as an executive of the Jacobs company...
...President's approval to keep the long-term rate where it is (2½%), because the U.S. cannot afford the "questionable luxury of tinkering with [it]." In his zeal to keep down the cost of financing the $257 billion national debt, Snyder overlooked the fact that the inflationary rise in prices has more than canceled out any savings that resulted from the low rate...
...almost everything wrong with Boston University. Its college of liberal arts was crowded into an old Harvard Medical School building just off Copley Square. Its own medical school was third-rate, its law school was taking students directly out of high school. Its treasury was nearly $500,000 in debt, and its campus was little more than a lot of scattered old brownstones...
...toot was on-what Scott called "the greatest, gaudiest spree in history." In New York, Scott fought with waiters, and Zelda danced on dinner tables. They went wading in public fountains and tried to undress at the Scandals. No matter how much he wrote, Fitzgerald was continually in debt. By 1924, he was living at a $36,000-a-year clip. Two years earlier, he had published The Beautiful and Damned, the story of a rich idler's moral collapse. It had the same faults as Paradise, and most sound critics, Wilson included, gave it the raps it deserved...