Word: fund
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Dates: during 1950-1959
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...nearly stalled federal-state highway program fueled up again was a "step in the right direction," said Ike (he had urged a 1½ increase), but he objected to the proposal to channel about half the revenue from federal taxes on automobiles and parts into the highway trust fund. Transferring that revenue, argued Ike. ''would only shift the fiscal problem from the highway fund to the general fund, which is already in precarious balance...
...Teamsters, Jimmy Hoffa was No. 2 man on the surface but already No. 1 in real power. In 1957 he elbowed discredited Dave Beck aside, got himself elected president with a salary of $50,000 a year, plus $15,000 extra from Local 299, plus a bottomless expense fund. Despite his prosperity, Jimmy Hoffa, with his wife Josephine and their son and daughter, has conspicuously continued to live in the lower-middle-class Detroit house that he bought 20 years ago for $6,800 (it is now worth about...
Committee investigators tracked down many loans made to Jimmy Hoffa, but found remarkably little evidence of repayments. Several recipients of Teamster loans showed their gratitude by lending Hoffa money or showing excessive kindness to his buddies. Teamster Lawyer George Fitzgerald got the Michigan Conference of Teamsters Welfare Fund to loan $1,000,000 to a realtor who paid Fitzgerald a $15,750 "finder...
...work looking for loopholes, Hoffa is going to make every effort to go on behaving like Hoffa. Last week he finished buying control of the Miami National Bank so that he can use the bank to get around labor-bill controls on what he does with Teamster welfare-fund money. He plans to channel welfare-fund millions into Miami National and then distribute the money as bank loans and investments, exempt from labor-bill restrictions...
...money. Because of the new boom, there has been a large rise in business loans, which have soared from a recession low of $52 billion in May 1958 to $58 billion last month. Heavy Government financing ($13 billion deficit last year), a record volume of state and local fund-raising in the first half of 1959, and a jump in consumer credit have added to the competition for funds. Following the surge, interest rates on bank business loans in 19 major cities went from 4.17% in 1958's second half to 4.87% in June -and are expected...