Word: lended
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Dates: during 1960-1969
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That view won official seconding from President Nixon's chief economist, Paul McCracken. He told the convention of the American Bankers Association in Copenhagen that bankers had continued "for too long making commitments to lend," when funds were obviously not going to be in limitless supply. Because of their "tardiness" in responsibly allocating credit, McCracken charged, the bankers set back the Government's timetable for slowing down inflation...
...shadows keep falling across the story. Those grandparents of Ellen who purse their lips in disapproval but lend their Michigan lodge for the honeymoon are less comic old folks than vaguely sinister agents provocateurs. Nor is the northwestern shore of Lake Michigan the Garden of Eden it appears to the two children, pretending like every young couple to be the only, the original man and woman on earth. After lyrically celebrating the pleasures of lovemaking, Woiwode begins softly terrorizing paradise. Ghostly presences appear progressively more foreboding: the stuffed animals on the wall, the mice in the piano, night tappings...
Lane is prepared to lend $15 million in the poor neighborhoods and spend $1,000,000 a year in cleanup campaigns. He also intends to expand his program far beyond that by seeking such large depositors as the Ford Foundation and converting their money into high-risk loans. "Lowincome people need money," says Lane, "and the banks have got to give it to them...
...question is where to look, and how? Furtive, sideways glances lend a guilty, not to say downright criminal, flavor to the sport; besides, they are unrewarding. A clear-eyed body stare can be misinterpreted. Sweeping the scene like a radar antenna is not a bad approach provided that the sweeper does not mind being pegged as slightly insane. A really sharp spectator will look the girl straight in the eye and natter on into the night about urban renewal, air pollution and go-go mutual funds. Sooner or later, he will bore her into looking away long enough...
...byproduct of two decades of U.S. balance of payments deficits. Eurodollars are nothing more than U.S. dollars on deposit in private banks abroad. The pool was organized in the late 1950s by London bankers who sensed that if they could marshal the billions of dollars already overseas, they could lend them out at a substantial profit. Business has been brisk ever since...