Word: loans
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Dates: during 1950-1959
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...months ago, the French asked Chennault for 24 American pilots for the perilous job of flying supplies into Dienbienphu. Earthquake went among the first. The C-119s they flew were on loan from the U.S. Air Force, the U.S. markings barely covered over with one coat of grey paint. The pay was good (about $3,000 a month, including hardship pay and overtime), but if pressed, Earthquake admitted to another reason. "Way I figure it, we either got to fight the bastards at home or fight them over here." When his CAT buddies howled with derisive laughter at the idea...
Scelba's practical moves against the Communists entrenched in Italy's own economy have been equally telling. He decreed that some 300 state-paid employees now on loan to predominantly Communist unions of government workers must go back to work for the government itself. He threatened to remove state backing from the Red-ridden Italian film industry. When Scelba set out to reclaim some 1,300 pieces of confiscated Fascist property now occupied by the Communists, he effectively quashed Red objections by urging that the reclaimed properties be turned into badly needed schools. Last week the new Premier...
This settlement, of course, was only a minor irritation compared to the real problems of finance during the Revolution which were inherited by Hancock's successor. Treasurer Storer's faith and foresight led him to buy Continental Loan Certificates during these years of incredible inflation, and the Harvard history books single him out as one of the University's greatest heroes. Whether or not he saved the school from "hopeless bankruptcy," Storer's feat of raising the College's personal estate from $55,000 in 1777 to $182,000 some 16 years later was truly remarkable...
...intensity of the attack on-the FHA mounted, a boomerang effect appeared as a dangerous possibility. Many sensed that if the political moralizing were allowed to get out of hand, the agency might be completely destroyed. To complicate matters, the savings and loan associations, long-time enemies of FHA, seemed anxious to cash in on the public indignation and press for abolition of the service. As competitors of the federal government in the mortgage insurance business, they have every reason to hasten...
Scandal No. 2 involved the home improvement loan program, known as Title I. Under this program, FHA guaranteed more than 16,500,000 loans to homeowners for repairs. With inadequate funds, and without permission from Congress to inspect each loan, the FHA had been forced to rely on the prudence of banks to uphold ethical standards. In many instances, the reliance was misplaced. Con men and crooked contractors have made millions from overevaluated loans for slapdash or nonexistent repairs...