Word: moneys
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Dates: during 1970-1979
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...winner was William Green, one of the city's Congressmen for seven terms. Green's father ran the Democratic machine for years in a metropolis where registered Democrats now outnumber Republicans almost 4 to 1. Ted Kennedy campaigned for him, and Green spent five times as much money as his two opponents put together...
Sensing possible upsets in two traditionally Democratic states, the G.O.P. threw money and manpower into the Kentucky and Mississippi gubernatorial elections last week. To no avail. John Y. Brown Jr. won in Kentucky and William Winter in Mississippi; each pulled about 60% of the vote. The Republicans, however, scored a net gain of 28 seats in state legislatures across the nation...
Today Kenya's economy is heavily dependent on foreign aid, which now totals $300 million a year, or about 10% of the country's gross national product. Explains an Agency for International Development economist stationed there: "People like to give money to Kenya. It's a sexy country...
...National Association of Home Builders called an emergency meeting in Washington to bewail the high mortgage rates. The group's economist, Michael Sumichrast, darkly predicted that housing starts, which ran at a 1.9 million annual rate in September, will soon be cut in half. The soaring cost of money, he claimed, has already forced 10 million Americans to abandon temporarily plans for that dream house...
Worse than the high interest rates is the sheer shortage of mortgage money. Usury laws in two dozen states limit interest rates to below 13%. Thus many banks and savings institutions have stopped making loans because it is impossible for them to earn any profit. Traditional lenders are also running short of cash because people are transferring funds from savings accounts to booming money market funds, which invest money in high-yielding securities and pay twice as much as passbook accounts. Perhaps three-quarters of the savings and loan associations in Chicago have stopped making mortgage deals...