Word: loan
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Dates: during 1960-1969
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...funds for the North. Sweden's new Prime Minister, Olof Palme, following plans laid down by his predecessor, intends to provide North Viet Nam with $45 million in foreign aid. Two-thirds of the assistance, which extends over a three-year period beginning next July, will be a loan. The rest will be an outright gift...
Electronics, oil, food processing, insurance, Savings and Loan associations, construction?all have been added to the spectrum of California's economic life. Not the least of the benefits of this vitality is the workers' share. California's wage earners constitute a mass aristocracy that takes home about $1.5 billion every week; their per capita income ($4,111) is higher than that of any other state or any country on earth. Here too, think tanks like the Rand Corp. have evolved and become indispensable. With extraordinary skill ?and hubris?their staffers tackle virtually every problem in America, from campus riots...
...Snarr Advertising had moved to Salt Lake City, boasted assets of $3.5 million, annual revenues of $800,000. Then the Beautification Act was passed. "My heart sank," Snarr recalls, "and the next week my bank called in a loan...
...choked off many of the sources of mortgage funds. More than any other U.S. industry, housing depends on private long-term credit. When interest rates rise rapidly, as they have this year, the financial institutions that normally provide most of the credit run short of money. Savings and loan associations and mutual savings banks have been hard hit by withdrawals; depositors have simply shifted their money out of savings accounts paying 5% and put it into Government bonds that offer an enticing...
...Nixon Administration has tried to cushion housing from the impact of tight money. The Federal Home Loan Bank Board has lent nearly $4 billion to savings and loan associations. The Federal National Mortgage Association, which is privately owned but Government-controlled, has become the principal source of funds for Federal Housing Administration and Veterans Administration loans. But money is so scarce that average private mortgage rates have risen from 6.4% two years ago to 8.1% now. Many borrowers must pay 81% or even 9%. Though the rates may fall a bit next year, they will probably stay high by historical...