Word: loaned
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Dates: during 1980-1989
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...mortgage rates and building costs mean that fewer than three in ten can pay for it. Eight years ago, the average U.S. family's monthly home payment totaled a quarter of its income. Now the figure is one-third, and it is still rising. Banks and savings and loan associations have attempted to get more Americans into homes through new methods of financing, like adjustable-rate mortgages. These keep the initial payments down, but the monthly cost can zoom higher when interest rates rise. As a result of these developments, more and more Americans seem destined to continue renting...
...committee had other options, including recommendation of a motion of censure, a heavy fine or even expulsion from the House. Hansen had failed to report several large-scale financial transactions totaling some $334,000 over four years, including a concealed loan of $61,000 to his wife Connie from Texas Billionaire Nelson Bunker Hunt in 1978. Hansen, who voluntarily refrained from voting in the House after his conviction, was the first convicted felon permitted to continue serving in that chamber since Michigan Democrat Charles Diggs was convicted in 1978 for diverting employees' salaries...
...India faced a gaping, long-term payments deficit. The previous year its oil-import bill had jumped to $5 billion and foreign exchange reserves had fallen by $1.4 billion in seven months. Prime Minister Indira Gandhi, then newly returned to office, responded by negotiating the largest loan in the history of the IMF, $5.8 billion. Critics in New Delhi immediately charged that she had plunged the country into a "debt trap." Yet last November, Mrs. Gandhi announced that her government would not need the last $1.1 billion installment of the loan. What had happened? Increased domestic oil production and remittances...
...five weeks. When they reopened, the government imposed tight restrictions on imports and credit and raised the discount rate 4 percentage points to stem runaway speculation against the lira-all in close cooperation with the IMF. A year later, the fund granted Italy a $530 million stand-by loan, thus opening the door to commercial credit markets. Within four years, Italy's reserve holdings were among the healthiest in Western Europe...
...boyish-looking Reed, who was nicknamed "the Brat" early in his 19-year Citicorp career, seemed like a long shot to be chairman because the consumer division he had directed since 1974 was a big money loser. Prodded by Wriston, Reed had moved aggressively to open consumer-loan offices from coast to coast. He had acquired the Carte Blanche and Diners Club credit-card companies and signed up 2 million new customers across the U.S. for Visa cards...