Word: loan
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Dates: during 1960-1969
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...cost of money also depends on who the borrower is, how much he needs and why he needs it. By borrowing millions of dollars at a time, modern corporations can usually get lower interest rates. A Ruhr industrialist can often negotiate a 4½% loan, but a Bavarian woodcarver might have trouble whittling down the rate even to 7½%. A New Wave film producer in Paris must pay about 32% for a loan that an established French producer could get for only...
Every country has its loan sharks -cursed, legislated against, but regularly patronized. Peasants in India prefer to get their money without delay from the village moneylender rather than go through the red tape of a low-cost government loan. The price is high: as much as 75%, including all sorts of hidden costs. And in New York City, shady money dealers have been known to charge as much as 25% a week, or, theoretically, 1,300% a year. That is something of a present-day record, but it comes nowhere near history's highest interest rate...
...around those archaic laws, U.S. Controller of the Currency James J. Saxon has been eagerly chartering new national banks. He hopes that they will introduce fresh methods, hone competition to the consumer's benefit, and revitalize a business that has been steadily losing ground to the savings and loan associations and the credit unions. Compared with the richer, older banks, many of the lean and aggressive newcomers stay open longer hours, charge less for loans and checking accounts, and adopt more aggressive ways of attracting money...
...many legislative reforms-from the 1891 act creating federal circuit courts of appeal, to the 1946 Administrative Procedure Act governing federal regulatory agencies, to new legislation enabling federal courts to pay court-appointed lawyers. To aid law students, it approved last week its first $2,000,000 student loan program. To educate practicing lawyers, it sponsors more than 40 publications, from the A.B.A. Journal to the Practical Lawyer. To train green state trial judges, it recently founded a summer "college" in Colorado. To spur legal research, it runs Chicago's $600,000-a-year American Bar Foundation. Though...
Museum Director Perry T. Rathbone has arranged a simultaneous exhibition of paintings by John Singer Sargent and Winslow Homer which were on loan to the White House during JFK's occupancy. A rare 15th century Hafner Ware bust, presented to the Museum by a New York collector as a memorial to Kennedy will also be exhibited...