Word: loaning
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...corrupt politician who has lost touch with the folks back home. But Kerry's efforts on behalf of Massachusetts are notable, and he is one of just three senators to refuse to take money from political action committees. He has led the fight in the Senate against savings and loan fraud, and has endorsed tax equity--sharing the tax burden more fairly--as a way to extricate this country from its fiscal mess...
Rickenbacker used to be a hotel bookkeeper, dreaming of what life would be like without a boss. Her break came when she was able to borrow $500 to buy a powerful new sewing machine and become a professional seamstress. Having repaid the loan after one year, she is thinking about expanding her operation...
This triumph of cottage capitalism may not sound like a model of international business strategy. But the program that helped Rickenbacker secure her loan is part of a worldwide effort to use "microlending" to provide credit to people without collateral. Its roots lie not in a U.S. university, boardroom or foundation but thousands of miles away in, of all places, the villages of Bangladesh. Development officers in the Third World have found that self-employment, backed by training and access to credit, can be a path out of poverty...
...Yunus, founder of Bangladesh's Grameen Bank, popularized this simple idea: give small "peer groups" the credit they need to start their own businesses. They then act as a combination credit committee and collection agency: if one member defaults, the others must pay back the money. The average Grameen loan is $67, and the repayment rate is 98%. Among those groups following his lead was Chicago's Neighborhood Institute, which gave Rickenbacker her loan, formed her peer group and sponsored a 13-week entrepreneurial-trainin g class...
According to one such document, Roger F. Martin, a former member of the Federal Home Loan Bank Board, which regulates S&Ls, told Senate investigators that Cranston called him at home late one night last spring and that DeConcini reached him the same way at 5:30 the next morning. Both had urged that Lincoln Savings be sold to an interested buyer rather than be shut down. Martin told the probers, "I have never, either before or since this incident, received a telephone call at home from any Senator or Representative regarding a board matter...