Word: mortgagees
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Dates: during 1980-1989
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Making golf clubs was a radical departure for Duclos, who spent 15 years as a McDonnell Douglas engineer, working on the Saturn rocket and Skylab programs. Golf was his passion, and he became convinced that "clubs really weren't designed to take full advantage of the principles of physics." In...
Did Fannie Mae make a big mistake on her tax returns? Yes, says the Internal Revenue Service. A tax court heard arguments last week in a dispute between the IRS and the Federal National Mortgage Association, the former Government agency that is now privately owned and known as Fannie Mae...
By far the Fed's most important mission is to manage the supply of money and credit in the banking system. By controlling the amount of cash available to banks, the Board of Governors affects interest rates and ultimately influences the level of inflation. The discreet actions of the Fed...
"Our biggest day was our grand opening," said Murdean Gulsvig, the cook this day, along with his wife Doris. Opening day was Feb. 1, 1986. They served 134 people in their new $34,000 building. Last year they took in $51,000, about $11,000 of that a clear profit...
By most accounts, Volcker ranks as the best-known chairman in the Fed's history. His bald pate and halo of cigar smoke became a familiar sight on magazine covers and TV screens, while his name frequently cropped up in everyday household discussions of mortgage rates and car loans. Overseas...