Word: moneyed
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Dates: during 1970-1979
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People transfer money into funds primarily by selling off stocks and withdrawing deposits from banks and savings and loan associations. This shift away from shares could further damage capital formation; companies ideally tend to raise long-term investment money in the stock and bond markets but go to the money market for short-term borrowings to cover operating expenses. The move out of savings is badly hurting the thrift institutions. They face a tremendous competitive disadvantage and a sharp outflow of funds because the Federal Reserve's Regulation Q prohibits them from paying more than 5½% on passbook...
Fighting a rearguard action against the money funds, many bankers trumpet that their deposits are guaranteed by the Federal Deposit Insurance Corporation, and that money market funds are riskier. There is a slight risk, but since the funds are put largely into top bank and corporate securities, a number of banks and cor porations would have to go broke before the typical money market investor would suffer much loss. He would not even lose, but his yields would go down, if interest rates declined. If they dropped far enough, he might have been wiser to invest in a long-term...
...case, the money fund yield is not so large as it seems. The interest paid by most funds is subject to federal, state and local income taxes, just as are savings...
...your money into a savings bank account at 5½% while inflation is more than 13%, you get poor very quickly. With money market funds, at least you get poor slowly...
...economy is foul, but money-big money-is being coined by the entrepreneurs. They are the creators and developers, the dreamers and hustlers who risk and dare. Many flop, but many others make it spectacularly Down in New Orleans, the skyline bordering on the storied French Quarter is being reshaped by a trim and handsome outsider, Joseph Canizaro The company that carries his name has just opened a 32-floor office tower, the first of many buildings in Ms Canal Place complex astride the roiling Mississippi Early in 1 980, dirt will fly for a 25-story structure and three...