Word: loan
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Dates: during 1970-1979
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American officials argue that the international money has partially thwarted the Federal Reserve's attempt to slow U.S. inflation by limiting credit. When the Fed tightens money to restrict loans in the U.S., banks often bring back the funds from the Eurocurrency market. In the past six months $16.5 billion has flowed in, and even savings and loan associations now borrow Eurodollars to finance mortgages...
People transfer money into funds primarily by selling off stocks and withdrawing deposits from banks and savings and loan associations. This shift away from shares could further damage capital formation; companies ideally tend to raise long-term investment money in the stock and bond markets but go to the money market for short-term borrowings to cover operating expenses. The move out of savings is badly hurting the thrift institutions. They face a tremendous competitive disadvantage and a sharp outflow of funds because the Federal Reserve's Regulation Q prohibits them from paying more than 5½% on passbook...
...breakfast last Wednesday attended by Vice President Walter Mondale, Treasury Secretary G. William Miller, and Fraser, the Treasury dropped its earlier insistence that aid be limited to $750 million. This raises the chances that Congress will give the company more, probably in the form of federal loan guarantees. Chrysler had asked for $1.2 billion. One worry: Booz, Allen & Hamilton, the company's management consultants, suggested that even $1.2 billion might not be enough. This week Chrysler will announce a third-quarter loss of about $460 million, more than double its previous record deficit of $207 million in the second...
...deposit on a downtown plot, then tried to borrow more to buy it. "There was enough income coming in from the property to service the debt if only somebody would lend me the money." The Establishment would not. Finally, he found a small bank to make the loan, and he started prospering. Canizaro...
...other differences of course is that this time Joe Timilty's neck is really on the line. Timilty has a lot more to lose than another election and the $25,000 loan he took out before the preliminary. If the state senator is relatively young in years, he's twice his age in political saleability and getting older each time he runs. If there was little personal animosity between the two perennial opponents the first time they played this show, there's a whole lot now. Like Peter the Great in Sweden, Joe Timilty has regrouped and come back...