Word: holding
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Dates: during 1960-1969
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Economic Slump. Though the junta has brought stability to Greece and taken a certain number of sensible steps, it has little to celebrate on its first an niversary except its own dogged determination to hold onto power. The country is still ruled by decree, and the press remains under tight censorship. Because of the period of political uncertainty that preceded the coup, the Greek economy, which had been growing nearly as fast as Japan's, was headed into a recession even before the colonels seized power. Despite all sorts of pump-priming measures, such as the cancellation...
Auction in Reverse. Now, Lapin expects to free Fannie Mae from such problems. Instead of buying (and selling) loans at a preset-and infrequently changed-discount, it will hold a weekly auction in reverse. Bidders will not be buying, but competing for the right to sell Fannie Mae loans at some future time. Thus the private market will set the price, or discount, while FNMA controls the volume of its business probably $40 to $50 million a week.' For loans on new or used houses, the association will accept bids to deliver mortgages within either three or six months...
...grease paint. Candidates have learned that the important thing is not so much what they say but that they say something that will get them on the evening news. "Our leaders," says Columbia University President Grayson Kirk, "are expected to appear almost on call before the television cameras, to hold innumerable press conferences, and to share their thoughts, even if they may be fragmentary and half-formed, with everyone in the country. No leader can long survive such ordeals and emerge from them unscathed...
...back a year by the disastrous malfunction of Soyuz 1 (TIME, May 5), which took the life of Cosmonaut Vladimir Komarov. As a result, the Russians have been forced to increase the tempo of space activity. They are now spending twice as much as the U.S., and even hold a spare booster rocket in readiness during each major space shot in case the primary booster fails...
Harvard's Association of Afro and Afro-American students will hold a rally today for only black students in support of UMOJA--Boston University's association of black students...