Word: loaned
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Dates: during 1960-1969
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...Educational Innovation announced a revolutionary plan that would guarantee any student as much money as he needed to finance his college education. The panel's chairman, Jerrold Zaccharias, Institute Professor at Massachusetts Institute of Technology, explained that his committee wanted Congress to create an Educational Opportunity Bank which could loan money to every undergraduate who asked for it. Repayment would be based on the student's earnings after graduation...
Goodies & Tie Clips. Promises that he and President Johnson would go over the heads of Congress to persuade Americans to give more help to Africa peppered the Vice President's public speeches and talks with African leaders. There were also some goodies: news of a $36.5 million loan for a dam in the Ivory Coast, $12 million worth of Food for Peace for Ghana, Peace Corps volunteers for the Congo, and help with a road in Zambia, as well as engraved silver bowls for heads of state and tie clips or cufflinks for lesser African functionaries. And everywhere there...
...design to refloat Lebanon's most important bank, the airline, real estate and other holdings will all be spun off into a separate investment company. Large depositors, including the U.S. Agriculture Department's Commodity Credit Corp., which had $22 million in Intra as an export loan covering surplus crop shipments, will be paid off in stock in the new company. Investors with less than 250,000 Lebanese pounds (about $80,000) in the bank will be able to get half their money back within the next three years, will receive the other half in stock. Intra will also...
...force a referendum. After a spirited campaign, the city opted last week to buy the Picassos by a vote of 32,118 to 27,190. With the money assured, the city government cannily required the foundation, as part of the final transaction, to leave the impressionists and postimpressionists on loan for the next 15 years. And Picasso himself was so touched that he announced "a little sur prise" gift from his private collection: a Rose Period oil called La Famille, two big, brand-new Picassos done in his contemporary style, and a watercolor study for his first cubist work...
Despite incomes that rose to a new peak, consumers turned surprisingly frugal and saved 7% of their after-tax cash, the highest sustained rate in a decade. Savings banks and savings and loan associations, which had been strapped for mortgage funds a year earlier, were deluged with deposits. Thus housing became the year's comeback industry, climbing from an annual rate of 1,111,000 private starts in January to 140% of that level. On the other hand, retail sales-which normally account for two-thirds of what consumers spend.-rose barely faster than consumer prices, which jumped...