Word: deposited
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Dates: during 1980-1989
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...Bank of New York has helped demolish several old-fashioned notions, like the idea that women are not well suited to handle money. But the bank is not above appealing to stereotypical womanly values. It now offers fine sable coats, in lieu of interest, to big-time customers. A deposit of $50,000 for five years earns a Canadian sable worth $25,000, or putting down $100,000 brings a $60,000 Russian coat. The furs are the equivalent of an 11 1/4% interest rate. The offer strikes many feminists as ironic and animal lovers as outrageous...
...never heard a bear market growl found the sound just too menacing. During the last two weeks of October, shareholders drained a total of $13 billion out of stock mutual funds. Of that, $9 billion flowed into money-market funds, which hold Government securities, bank certificates of deposit and other sturdy investments. At Franklin Resources in San Mateo, Calif., redemptions in October reached $550 million, a level more than three times as high as in a typical month. "It was a stampede," said Monte Gordon, director of research at the Dreyfus group of mutual funds. "Everybody tried...
Since then, the Chicago Mercantile Exchange has imposed a limit on the amount that an index futures contract can rise or fall in a single day. The Merc has also increased the amount of cash, or margin, that speculators must put on deposit. Congressional investigators are talking about additional safeguards to limit the number of futures contracts a broker could execute in a day. But at hearings last week in Washington, Merc President William Brodsky argued that the sale of index futures had a stabilizing effect on Black Monday. Without that escape valve, Brodsky suggested, the Dow would have fallen...
...small nation willing to trade bananas for several metric tons of hospital waste. But that's nothing compared with New Jersey's efforts to give away its garbage. City managers have sent trucks rolling into rural Pennsylvania in search of an appropriate rock formation on which to deposit their load. Pennsylvanians, to their credit, have been pretty adamant about not taking the refuse. A dozen roses, yes, but they refuse to accept 750 tons of Twinkie wrappers and ex-TV dinners...
...economists generally believe any such slump would go no further than a difficult recession, rather than plunge into a full-blown depression. Reason: since the 1930s the U.S. has constructed a battery of economic and social safeguards. When the last crash struck, the U.S. lacked such backstops as bank-deposit insurance, unemployment compensation, food stamps, Social Security and Medicare. Says Economic Consultant Pierre Rinfret: "Could we have a crash a la 1929? The flat answer...