Word: moratorium
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...meetings have happy outcomes. Last week, for example, Brazil discomfited fellow club members by suspending payment on more than $1 billion of debt principal owed to governments. But the moratorium, which had been widely expected, will not affect this year's interest payments to the club of about $242 million...
...those loans was dwindling because of all the concessionary terms -- lengthened repayment schedules, lowered interest rates -- that creditors worldwide have been granting to Third World debtors in order to keep them from defaulting. Then the entire international credit edifice was badly shaken last February when Brazil announced an indefinite moratorium on payments of interest and principal on $68 billion of its $108 billion in total debts, the largest in the Third World. Citicorp alone stood to lose about $450 million this year as a result of Brazil's decision...
...bankers, gaining a similar advantage will take time, no matter what happens this week. In March the U.S. Senate passed a banking bill that if adopted by the House would place a one-year moratorium on any regulatory expansion of bank powers. Such legislation would be likely to void any relaxation of Glass-Steagall by the Federal Reserve Board this week. But major banks fully intend to test the limits of how far they can move toward investment services. Last month, for example, Chase Manhattan introduced a deposit account with a yield tied to the stock market's performance. That...
...your head. Heh heh. A little joke there, dude. But seriously, why bother with the whole artificial death scene, man, I mean in the end it's all the same, right? I'm for just hanging loose, dude, like playing it fully casual--I say let's place a moratorium on doomsday machines, and then divert funds meant for the Defense Department to the Grateful Dead. You in, dude...
...attempt to heal this growing rift, the AAU sent out a ballot this week asking members if they would support a moratorium on all lobbying for Earmarked funds, says Rosenzweig. In these days of constricted federal budgets, he hopes that non-AAU institutions will respect the moratorium, but cynically adds that "I also hope it won't rain on a cloudy day when I'm having a picnic...