Word: loans
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Dates: during 1950-1959
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Hard Sell. In Birmingham, arrested for throwing a garbage can through the plate-glass window of a loan company, Arthur Bostian explained: "I was trying to draw attention to Governor Patterson's fight against loan sharks...
...flashy Grassi asked Allen for a loan of $30,000 for a month, saying it would save him the trouble of bank charges. Allen obliged with a check drawn on the American Express bank in Rome. Punctually at month's end, Grassi repaid it. After a second $30,000 loan, which he also repaid promptly, Grassi had Allen completely gulled. Grassi rapidly obtained three successive "loans" of American Express funds totaling an incredible $670,000, and Allen concealed the transactions...
...years he has had little time to enjoy the view, has been intent on a much broader horizon. As a director of the Export-Import Bank since 1954, Vance Brand, 52, has traveled more than a quarter of a million miles at the job of overseeing longterm, low-interest loans for the world's underdeveloped nations. So well has he handled the job that President Eisenhower last week nominated him for a post that will keep him away from Ohio even more: managing director of the two-year-old Development Loan Fund, to succeed Dempster Mclntosh, who resigned July...
...Senator Homer Capehart of Indiana persuaded him to become secretary of an advisory committee to strengthen U.S. loan agencies. Brand helped draft the law that expanded the Export-Import Bank's role and lending authority, made it autonomous under a board of directors. He moved into the Eximbank as a director. In 1956 Brand performed his biggest coup by persuading a group of Government agencies and eleven private banks to grant an unprecedented $329 million loan to help stabilize the Argentine economy after Peron's fall...
Brand believes that loans from the U.S. Government should supplement rather than replace U.S. private industry abroad. Says he: "I want to see American industry do the job. Instead of promoting state enterprises, let's foster the private side." As head of the Development Loan Fund, he intends to stress private enterprise more than the fund has done, give more loans to foreign businesses instead of governments. He also hopes to get more money from Congress. Right now the fund has $53 million to give out in loans, but the loan applications total $1.4 billion...