Word: lender
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...overextended small farmer is getting squeezed most. When his finances are so precarious that even the sympathetic local banker will not extend credit, he turns to the Farmers Home Administration, an agency of the Department of Agriculture. That lender of last resort finds that 51% of its one-year operating loans were delinquent at the beginning of this year, compared with 26% in 1979. In the past three years, the number of delinquent loans has nearly tripled, to 218,054, and their value has multiplied nearly five times, to $14.9 billion. While the FHA has begun foreclosure proceedings against only...
Still, this custom confutes nature. In every other such situation, the borrower becomes a slave to the lender, the social weight of the debt so altering the balance of a relationship that a temporary acquisition turns into a permanent loss. This is certainly true with money. Yet it is not at all true with books. For some reason a book borrower feels that a book, once taken, is his own. This removes both memory and guilt from the transaction. Making matters worse, the lender believes it too. To keep up appearances, he may solemnly extract an oath that the book...
...towing the party line, King has been almost aggressive in his support of President Reagan and fiscal policies. Top Reagan aides and G.O.P. leaders, uncomfortable with huge projected budget deficits have for some time been pressuring the president to tone down his initial proposals. Just last week, Senate Majority Lender Howard Baker (R-Tenn.) officially broke ranks, proposing a surcharge on income taxes; the next day Senate Budget Committee Chairman Peter J. Domenici (R-N.M.) called for defense spending cuts. At the same time, an overwhelming majority of state executives, headed by Republican Richard Snelling of Vermont pointedly stressed...
Analysts believe that U.S. banks have made about $1.8 billion worth of loans to Poland. Bank of America is" the biggest U.S. lender, with $175 million of debt outstanding. Other major creditors include five New York City banks: Citicorp, Chase Manhattan, Manufacturers Hanover, Morgan Guaranty and Chemical. Each has loans of more than $75 million with Poland...
Nonetheless, American banks are not Poland's leading creditors. That dubious distinction goes to West German financial institutions, which are owed at least $2.7 billion. The largest single lender is the Bank für Gemeinwirtschaft, with a total of about $310 million in Polish credits outstanding, followed by three other German banks with $180 million or more each. Hans Friderichs, Dresdner Bank's chairman, recently conceded that his bank was setting up a contingency fund against the possible write-off of part of its Polish and other weak loans...