Word: modestly
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Dates: during 1960-1969
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...most visible: perquisites and privileges, abuse of public funds and private gifts. A Congressman's or Senator's allowance for his office staff is strictly apportioned by law according to the size of his constituency-and is usually inadequate. Many Congressmen (51 at latest count) of modest means employ relatives in staff jobs, and the practice is not necessarily wrong. In Powell's case, however, his wife did no work in his office and he just pocketed her salary...
...Palace in Djakarta: "It is like a former government servant staying in a government house." But General Suharto, who does not want to give Sukarno's backers reason to rebel, is in no rush to go too far in punishing him, himself prefers to continue living in his modest one-story house. "Let him keep his ornaments," says Suharto. "What harm does it do?" As he was sworn in as Indonesia's new chief executive last week, Suharto continued that note of reasonableness and compromise: "Winners are we all. Neither group has been defeated in this Congress...
...years ago. It was a rare public appearance for Nikita Sergeevich, and a crowd of nearly 1,000 collected outside the school to call "Good day!" and "Long life!" Why such a crowd? reporters asked. "You know," he explained, as he walked back to his modest apartment two blocks away, "I worked in Moscow a long time...
...Modest Nest Egg. The new company, Home Capital Funds, Inc., will lend 15% of the price of a home, and such traditional mortgage sources as Metropolitan Life Insurance Co. and Minneapolis-based Investors Diversified Services will pick up another 75% to create a 90% loan. The arrangement is called "piggyback" financing because it avoids risky second mortgages, involves a single joint loan on each house. Brewer calls it "a virtual partnership" between lenders and manufacturers "to assure a continuous flow of money to buyers at rates and down payments they can afford...
Home Capital starts with a modest nest egg of $2,000,000 put up by Plywood-Champion, Andersen Corp., Armstrong Cork, Kaiser Industries, Masonite and Reynolds Metals. By borrowing as much as twelve times that amount from banks and other sources of capital-much as consumer-and auto-finance concerns do-Home Capital expects to be able to make loans on some 7,000 homes within 18 months. The money will go primarily to buyers of new, one-family homes through mortgage bankers across the U.S. With more capital and borrowing, Home Capital aims at financing 100,000 homes...