Word: evening
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Dates: during 1970-1979
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...money has partially thwarted the Federal Reserve's attempt to slow U.S. inflation by limiting credit. When the Fed tightens money to restrict loans in the U.S., banks often bring back the funds from the Eurocurrency market. In the past six months $16.5 billion has flowed in, and even savings and loan associations now borrow Eurodollars to finance mortgages...
Attempts to impose further controls now seem inevitable. The Federal Reserve and West Germany's Bundesbank, which are leading the drive to put Eurocurrencies in leg irons, have already asked major countries to impose reserve requirements on foreign deposits with their banks, even if they are branches located outside the country. In addition, governments of ten leading industrial nations are trying to force all banks to show exactly how much money they have lent out abroad...
...that money market funds are riskier. There is a slight risk, but since the funds are put largely into top bank and corporate securities, a number of banks and cor porations would have to go broke before the typical money market investor would suffer much loss. He would not even lose, but his yields would go down, if interest rates declined. If they dropped far enough, he might have been wiser to invest in a long-term bank note. For example, a nine-year certificate of deposit now pays about 9%; that, of course, is less than most money market...
...Chrysler must win concessions from its bankers, dealers, supliers, executives and workers. Everyone las been reluctant to be the first to act, and some have been downright ornery. Only three weeks ago, nearly one-third of Chrysler's 180 bankers voted against renegotiating its credit lines, arguing that even a federal bailout might not save ;he company. Now that the U.A.W. has Broken the logjam, and with the presidential primaries approaching, support for Chrysler is gaining momentum in the White House, the Treasury and Congress...
...dropped its earlier insistence that aid be limited to $750 million. This raises the chances that Congress will give the company more, probably in the form of federal loan guarantees. Chrysler had asked for $1.2 billion. One worry: Booz, Allen & Hamilton, the company's management consultants, suggested that even $1.2 billion might not be enough. This week Chrysler will announce a third-quarter loss of about $460 million, more than double its previous record deficit of $207 million in the second quarter. The full-year loss could top $1 billion...