Word: lende
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Modest Nest Egg. The new company, Home Capital Funds, Inc., will lend 15% of the price of a home, and such traditional mortgage sources as Metropolitan Life Insurance Co. and Minneapolis-based Investors Diversified Services will pick up another 75% to create a 90% loan. The arrangement is called "piggyback" financing because it avoids risky second mortgages, involves a single joint loan on each house. Brewer calls it "a virtual partnership" between lenders and manufacturers "to assure a continuous flow of money to buyers at rates and down payments they can afford...
Some of my friends, having seen the photograph in TIME, have expressed surprise that I would lend my work to such a play. I would like to make it clear that I had nothing to do with this production of MacBird...
...unlendable reserves. The change applies only to the first $5,000,000 of a bank's total time deposits; anything over that remains under the stiff 6% reserve requirement imposed during last summer's credit squeeze. This partial easing will free an additional $850 million for lending, mostly in 5,945 rural and small-city banks. Bankers can already lend about $7 for every $1 they have in reserves, and this "multiplier effect" will therefore allow the newly liberated $850 million to ripple through the economy as a $6 billion credit stimulus...
...create the philosophy of an "Army of Peace"? Why not develop ways in which those who must for national security learn how to wear a uniform and fire a rifle may simultaneously lend their efforts in this and other countries to tasks promoting the social good and international understanding? Such a proposal is to be distinguished from suggestions involving a substitution of separate service programs for the military service; it would seek to make humanitarianism a working part of our defensive military posture. Clearly the requirements of military training will still have to be met, and the military system...
Having the Italian government as chief stockholder of parent ENI also helps. Two state agencies, Mediobanca and Istituto Mobiliare Italiano last week agreed to lend Zambia $30 million to pay Progetti for an oil pipeline from landlocked Zambia to Dar es Salam on the Tanzania coast...