Word: limiteds
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Dates: during 1960-1969
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...know why, but danger has always been an important thing-to see how far I could lean without falling, how fast I could drive without cracking up." This summer he found an all too tangible answer: his $11,000 Ferrari, whining along at a reported 110 m.p.h. on a limit-free Italian autostrada, crunched into a tiny Fiat, killing a Florentine businessman. Although the actor's driving record has been safe at any speed, an Italian magistrate ruled last week that there was sufficient evidence of recklessness to justify an indictment for manslaughter. Penalty for conviction: one to five...
...Better Way. In their move to raise rates, banks ignored an appeal for restraint from Treasury Secretary Henry Fowler. "Surely," he begged, "there is a better way to limit credit than by simply raising its price." There is certainly. The Government itself could cut spending, thereby allowing the Treasury to curb its own borrowing; this not only accounts for a big share of the credit demand that worries Fowler but also tends to expand banks' ability to inflate credit. Reason: the Federal Reserve Board must often pump money into the economy to ensure that the Government can sell...
...raised their prime interest rates, the Federal Reserve Board, for the second time in two months, acted to cut the supply of bank funds available for lending. It increased the amount that banks must set aside as reserves on certain types of time deposits from 5% to the statutory limit of 6%, starting next month. This will take approximately $450 million out of lendable circulation. Credit-starved housing starts dropped to the lowest level since the bottom of the 1960 recession, an annual rate of 1,064,000 units. Mortgage lenders gloomily forecast that the new prime rate would increase...
Galbraith does not propose the complete elimination of private contributions. Rather he suggests a limit of $25 per person in any one general or primary election. "All such contributions would be paid not to the candidate but to the state auditor, who would in turn redistribute them to the designated candidates .... It will be observed that this arrangement would allow public participation in campaign financing and allow a candidate with a genuinely wide following to benefit therefrom...
...addition to these changes, Galbraith asks that a limit be established on the candidate's contribution to his own campaign. The limit, should "in no case [exceed] a few hundred dollars and in most cases [be] much less; the candidates should also be required "to keep such current records as would allow for a rapid and full audit of their expenditures. Such an audit might be instituted in instances of alleged or suspected violation or as a general enforcement measure during the course of the campaign...