Word: loans
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Dates: during 1950-1959
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...drying up. Once, most states specified that a large portion of their pension funds had to be invested in federal bonds. Today many permit them to be invested in higher-yielding corporate bonds. An even bigger Government market used to be insurance companies, mutual-savings banks, savings-and-loan associations and corporate pension funds. From 1952 through 1958, these institutions trimmed their federal-bond holdings from $23.9 billion to $20.6 billion, bypassed the Treasury entirely in putting more than $90 billion in non-Government investments...
...Business Development Corp., personally headed a campaign that sold $1,000,000 worth of $10 shares (he bought $5,000 worth) for a kitty to back small business. Though B.D.C.'s fund represented only a small stick of capital, Hodges gave it leverage by signing up banks and loan associations to participate in B.D.C. risks. Run by a board of prominent citizens, B.D.C. took part in small loans totaling $5,000,000, created 8,000 new jobs, helped build a climate of confident risk-taking...
...inspired by the example of the 13 American colonies," joined forces last November, scarcely a month had passed since Guinea cut itself loose from France. To Nkrumah, the union seemed an auspicious first step toward an eventual United States of Africa, and he promised a $28 million loan. Of this sum, $11 million has been paid-half of it just before Nkrumah's arrival. Otherwise, the union has been largely talk. Touré, the junior partner, has been moving off in some alarming directions...
...Harvard has accepted its relatively small apportionment of loan fund money and has been pleased to have it," Pusey pointed out. However, he emphasized the compliance of students has been obtained "at the expense of their own self-respect," and stated strongly that Kenendy's committee should recommend the "elimination of this odious section...
...loyalty oath" were merely ineffective, a growing list of major colleges--including Bryn Mawr, Harvard, Haverford, Princeton, Sarah Lawrence, Swarthmore and Yale--would not have protested so strongly. The real danger is that the required affidavit constitutes an inquiry into vaguely defined associations and beliefs. To secure his loan, an applicant must swear that he does not "believe in" any organization that "believes in" certain programs. But the Act provides no objective criteria, nor can it, for judging what beliefs are "subversive." In its most dangerous implication, the "loyalty oath" requires a blanket rejection of participation, or belief...