Word: lende
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...someone write an introduction to one of her books that strokes away your jitters; it says Giovanni "curses with a style and sense of the genteel, a freedom and control in an admirable balance that is impossible to imitate." Occasionally, she has quoted jingles in her essays that lend themselves to a certain style, like "Nothing black but a Cadillac," after which she added politely, "Niggers ought to be buried in Cadillacs because that's what's killing us." Gentility. GM, Lord & Taylor, Philco "new color" TV...but isn't that what she meant when she admonished you for worshipping...
Plenty to Lend. For housing, the shift of savings-account money into Treasury issues could hardly have come at a worse time. The industry has barely begun to recover from what for it has been more like a depression than a recession. New-home starts bounced up 14% in July but flattened out in August at an annual rate of 1.3 million, v. a peak of 2.4 million in 1972. Largely because of high home prices, the $2,000 income tax credit to buyers stimulated sales very little. Continued disintermediation, says U.S. Savings and Loan League Economist Ken Thygerson, "will...
Such forecasts may sound Cassandra-like. The thrift institutions took in money at a record clip early this year and still have plenty to lend: they hold more than $405 billion in assets. Treasury borrowing in the fourth quarter is supposed to decline from the current quarter, though that is not certain. Nonetheless, the threat of continued disintermediation is pushing savings institutions into taking protective action. Already many are cutting back on mortgage commitments for the rest of this year; in the past few weeks several have raised mortgage Interest rates by about a quarter of a percent...
...more of their capital in New York City bonds and other obligations and thus would be in serious trouble if a default caused the value of those securities to plunge. The banks would probably not be wiped out: Federal Reserve Chairman Arthur Burns has pledged that the Fed will lend generously to any bank threatened by a New York default. The banks nonetheless might have to stop making new loans and call some of their old ones, while trying to rebuild their capital, thus hurting businessmen and consumers in states as far away from New York as Missouri, Texas, Arkansas...
...York City. Assuming that the $2 billion financial package holds up, the board will have three months in which to devise a program that can start to put the city on a sound financial basis. If the board succeeds, Rohatyn is hopeful the Federal Government at last may lend some land of support to Big Mac bonds−a guarantee if the paper is subject to federal taxation. New York, in effect, has a new government with a more decisive politician, Hugh Carey, at its head. It is probably the city's last chance for a financial turnabout...