Word: loaned
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Dates: during 1990-1999
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Harvard says the money is only a loan, to be paid back out of revenue as previous alumni pledges pour in over the next few years...
Neither College officials nor WHRB leaders will talk about the amount of the loan. Faculty Director of Planning Philip J. Parsons says the University neither loses nor makes any money on the loan, because the station is paying Harvard's standard interest rate...
...Because of construction on Memorial Hall, WHRB had to meet our schedule. It was in our interest, therefore, to make them a loan," Parsons says. "We're acting as a bank for the station till their fund money comes...
...editor Bernard Baumohl, who covers the economy. "In the past two or three years, the Federal Reserve gave banks a great gift: it held interest rates at very low levels," he says. Lower interest meant that banks could get away with giving depositors lower rates of returns while keeping loan rates relatively high -- and pocketing the profits...
...think that the millions of small savers who made this sacrifice to banker comfort could at least have got a loan from a bank, but no way. They got mortgages, and that was it. There were no home-equity loans, and stores didn't take credit cards. The only sources of quick cash were pawnshops, relatives, loan sharks and the local finance company...