Word: loans
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Dates: during 1980-1989
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...elections. But that was more than sufficient for Thatcher to pursue her "unfinished revolution" in reshaping the political, economic and social fabric of Britain. When she was first elected in 1979, the country was in such economic peril that only 2 1/2 years earlier it had sought a bailout loan from the International Monetary Fund. Today Britain is a leading creditor nation with a vibrant economy, a rising currency and a booming stock market that soared anew in response to the Tory victory. Thatcher, says London's Sunday Times, has brought about Britain's "biggest transformation since the Industrial Revolution...
...activities of Fannie Mae, which buys mortgages from lending institutions and sells them to investors, during the early 1980s. At that time the organization decided to swap large numbers of mortgages whose value had been depressed by high interest rates for similar mortgages held by savings and loan associations. Reason: both parties in the deal incurred losses that they thought could be written off their taxes. But the IRS later ruled that these were paper losses that could not be deducted...
...concerns have not dictated economic choices, planners have misjudged the needs and capacities of post-colonial states. Pumping in capital for the creation of heavy industry, "development experts" in the 1950s often seemed to think they could replicate Europe's 300-year industrial revolution in three years of revolving loan plans. Rather than providing the resuscitating slap on the back which postwar dollars gave Europe, these "modernization" loans went to finance unproductive and hopelessly uncompetitive urban industries. The result was merely to add the new weight of debt to the previous burdens of colonial exploitation...
...another point, Hall told of asking North for a small loan for a weekend trip to the beach in June 1985, and said he gave her three $20 traveler's checks, drawn on a Central American bank...
...beginning to cast a dangerous pall over world trade. Another summit priority will be taking further steps to ease the international debt crisis, which is simmering once again with the decision by Citicorp and other big U.S. banks to set aside billions of dollars for anticipated Third World loan losses...