Word: lending
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American bankers for decades operated by the 3-6-3 rule: pay depositors 3% interest, lend money at 6% and tee off at the golf course by 3 p.m. They could afford to be that precise because federal and state laws set the strict rules by which they operated and protected them from competitors. As a result, the power and prestige of bankers remained as secure as their vaults, while profits were steady and certain...
...group in Key West, Florida, where Williams lived out the last years of his life, will ask the two schools to donate or lend some of Williams's belongings to start a museum, perhaps located in Williams's home, Watson said...
...Some courses don't lend themselves well to the case study method," says Fran Rinaldi, assistant director of Stanford's program. Rinaldi cites international economics and business-government relations as areas which need a more formal treatment...
...bulls, it turned out, were only taking a breather. On Thursday the interest rate on federal funds, which are reserves that banks lend to one another overnight, fell as low as 9.5% from an average of 10.27% the day before. The financial markets took this drop as a sign that the Federal Reserve Board, which influences the funds rate through the amount of money it supplies the banking system, was easing monetary policy and would allow the cost of credit to fall. That plus the good news about oil caused bond prices to surge and the stock market to stampede...
...separate report from the Federal Reserve Board seemed to lend support for Walter Mondale's contention that the U.S might be moving into a recession. It showed that industrial production declined .6% in September, falling for the first time since the last recession ended in November 1982. Economist James Tobin of Yale University warned that the Federal Reserve should be concerned about a new downturn. Levy Economic Forecasts of Chappaqua, N.Y., proclaimed that the recession was already here...