Word: lents
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Dates: during 1960-1969
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Moreover, many banks had lent long but had borrowed short - a classic formula for financial woe. Altogether $18.6 billion of their $194.4 billion total deposits were in the form of short-term certificates of deposit, and many holders of "C.D.s" were cashing them in to draw fatter interest elsewhere. The dismal prospect was that deposits would continue to decline, while in mid-September the banks would be hit by corporations for more loans to finance quarterly tax payments. If the banks turned them down, the corporations would start a run on their deposits...
Relying mostly on character instead of credit to judge who should get its largesse, the SBA in 22 months has lent $25,281,230 to 2,475 borrowers in 44 communities. Though defaults have come to 3.4% of that total as compared with a mere 0.2% in commercial bank lending, the agency calls itself "pleasantly surprised" that the record is not worse. Even so, some critics complain that the SBA has taken some mighty peculiar risks. A service station folded because the owner wasn't around enough to keep track of the operation. A small manufacturer of plastics...
...Blue Friday for the U.S. fishing industry. As of last week, some 46 million Catholics were no longer required to observe meatless Fridays except during Lent, and the industry lost its "captive consumers...
...small, but effective coalition had three factions. There was the so-called Richmond Establishment in the state capital. Here the bankers and the editorial pages of the Richmond newspapers lent powerful support to the Byrds. The Machine, in return for keeping corporate taxes and public welfare spending very low, received staunch backing from business and industry. The Organization was also able to pile up phenomenal margins in rural Southside Virginia by maintaining a gentlemanly but firm stance against integration. Southside, along the North Carolina border, is a lot like Alabama's Black belt...
...were staggering. Jean Leymarie, Geneva University art professor and longtime Picasso friend, who undertook the task of amassing the works, insisted that the exhibition include Picasso's full range, from a finished academic portrait done when Pablo was 14 to landscapes as recent as last year. The Soviets lent nine cubist paintings, making it the first time-and probably the last-that the complete series of great cubist portraits could be seen in sequence. From the U.S. came 46 key paintings from private collections and museums, including the Museum of Modern Art's pivotal 1907 Demoiselles...