Word: loaned
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Dates: during 1970-1979
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...MacArthur is a peculiar homegrown Yankee product, one of those ingenious cranks who are likely to do the Republic some good-in spite of itself. Hardly had the dam fallen than he was on the phone to Washington, inquiring cheerfully about a low-interest loan. He happened to be (he explained to the voice going uh-huh on the other end) just the American that President Carter always talks about. He was-reverent pause-a small businessman. He also happened to be another of the President's favorite people: an energy-crisis fighter, an advocate and indeed a practitioner...
After nine phone calls, MacArthur located in the labyrinth of the Department of Energy (DOE) a harassed man with, he swore, 3,999 other dams to worry about. He informed MacArthur that he might have become eligible for a loan by conducting something called a feasibility study, if only the wall had collapsed two months before. Now-too bad-the deadline for feasibility studies had passed...
...economy will not suffer a credit crunch but only a squeeze late this year and early next. In the New York financial community, the betting is that interest rates will go up a bit more, but not much; that Miller will get the money supply under control; that loan demand will fall as the economy slows; that Government borrowing will be heavy, but enough money will be left to meet the reduced borrowing demands of most?not all ?companies and individuals...
...theory it all sounds neat, but in practice dozens of factors can throw off Federal Reserve calculations. The necessity of creating at least enough money for the Treasury to borrow to cover budget deficits is one. The strength or weakness of loan demand is perhaps the most important consideration. The Federal Reserve may set an interest-rate target of, say, 7¼% to 7¾% for Fed funds? which is believed to have been its goal in June. But if loan demand is exceptionally strong, it may have to put out more money than it wants to in order to keep...
...sugar dipped below 13.5? per Ib. The program was to stay in effect until Congress approved the International Sugar Agreement to stabilize world prices at between 15? and 19? per Ib. through Government stockpiling. Instead, Congress amended the farm bill, which became law Oct. 1, with a program of loan supports, tariffs and import fees intended to satisfy producers of both kinds of sweetener...