Word: dollarization
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Dates: during 1980-1989
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While Harvard runners and administrators have been bubbling over the new million-dollar, superfast outdoor track ever since it opened several months ago, the track has been doing some bubbling of its own--air bubbling...
...Cabot passed on guardianship of Harvard's endowment to his colleague at State Street Management. George Bennett '33. State Street, under whose aegis Cabot manipulated Harvard's money, had enjoyed awesome success--a dollar put in that firm's main mutual fund in 1924 would have grown...
...almost without incident, that almost no memories remain, no signposts to draw the boundaries. In the 1960s we came of age in the nation's best, or at least its elite, colleges. Most of us never knew economic difficulty. I remember wandering around Cambridge for days without spending a dollar, except on books and movies. I had no money, but I also needed none tuition, room, and board were paid. I never bought clothes, never had cleaning bills, never ate out except at a sandwich shop called Elsie's, and traveled exclusively by thumb and backpack...
...alumni become more likely to chip in big bucks to meet a stated goal. And development officials here are hopeful that a newly announced matching scheme by 27 wealthy alumni and Harvard friends will ease the Campaign down the home stretch. Under the plan, they will give Harvard one dollar for every two dollars in new or increased contributions received--up to $25 million worth...
...believed to have freed the yen to make it more available for trading on international currency markets. Tokyo will also reduce restrictions on the outflow of the yen and improve the access of foreign banks to the Japanese money market. That means other nations can reduce some of their dollar holdings and start acquiring yen deposits, which should drive up the currency's price in the process...