Word: lent
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...week's end a new allegation was raised against Casey. Carl G. Paffendorf, president of COAP Systems Inc., a computerized financial planning company, said that Casey had lent the company $100,000 in 1971-72 when Casey was chairman of the Securities and Exchange Commission. In return, claimed Paffendorf, he had given Casey a $10,000 interest in another computer firm, Penverter Partners. Casey had failed to report this gift in financial statements required for his Senate confirmation to head the CIA. An agency spokesman said Casey had paid "a nominal consideration" for the Penverter interest...
Still more is lent out in so-called private corporate placements. These loans -SAMA now has as much as $15 billion outstanding-are unpublicized transactions in which major Western corporations raise money by borrowing directly from SAMA. Among the private placements on SAMA's books: $650 million for AT&T, $300 million for IBM and $200 million for U.S. Steel...
...Bank's original task was to help finance the rebuilding of Europe after World War II. But over the years its focus has shifted increasingly toward Third World economic development. Last year it lent more than $12 billion to nearly 100 countries for projects such as mining, agricultural development, road building and rural electrification...
...white tornado seems to have hit Hollywood particularly hard. At this spring's Oscar ceremony, Johnny Carson remarked: "The biggest moneymaker in Hollywood last year was Colombia. Not the studio-the country." Reports abound of coked-up parties and drugged-out meetings. Earlier this year, TV Guide lent a degree of credence to such talk in a two-part series concluding that, among other things, cocaine was partly responsible for the low quality of television programming inflicted upon Americans. Though the articles were understandably short on names and specifics, the House Select Committee on Narcotics Abuse and Control somewhat...
...accounts. The S and Ls, therefore, would like the Federal Reserve to impose the same kind of reserve requirements on money-market funds that it now requires of banks. At present, banks have to set aside a percentage of their total deposits in a reserve account that cannot be lent to customers. If the money-market funds also had to do that, it would increase their costs and cut down on the amount of interest they would be able to pay. The money-market funds have fought the proposal with mailing campaigns to politicians, who are not likely to hinder...