Word: mutually
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Dates: during 1970-1979
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...expand. But the biggest lift is psychological. A bull market puts executives in an expansive mood, as the worth of their stock options goes up, and raises the morale of employees, who see the value of their stake in pension funds increase. Consumers who own stock directly or through mutual funds feel richer. If they do not have ready cash, a rising market increases their ability to borrow: readily marketable stock that is going up in price is excellent collateral on loans...
...Reserve Board's willingness to exert pressure to push down interest rates; last week First National City Bank of New York cut its prime rate on loans to business by a quarter point, to 6.5%. Says Howard Stein, chief of the Dreyfus Corp., which has $2.5 billion in mutual funds: "The Fed is finally allowing interest rates to adjust to the needs of the economy...
...otherwise flat or slightly downward curve. Instead, an inexplicable renewal of optimism caused a wave of heavy buying, and the running of the bulls into the market began. As prices started to rise, the big institutions, such as banks' trust departments, pension funds, insurance companies and mutual funds, became anxious not to be left behind. They pumped massive amounts of cash into stock purchases, as evidenced by more than 5,000 trades of 10,000 shares or more during January. Meanwhile private investors, who saw their long-depressed shares finally regain a measure of their old worth, were eager...
...interview to TIME Correspondent Bernard Diederich. His sentiments are understandable: if the U.S. can get him extradited from Costa Rica, to which he fled in 1972, he will face trial on four indictments. The latest, returned in mid-January, charges Vesco and six associates with selling stocks held by mutual funds that were managed by I.O.S. Ltd.-the investment complex once controlled by Bernard Cornfeld-and then investing more than $100 million of the proceeds "for their own use and benefit" in corporations they controlled. Some $60 million allegedly went into Inter-American Capital, a Costa Rican-based corporation...
...Lester and I have always been bitter political enemies," says Carter. "We were nominated in 1970 by the same Democratic voters, so we gave each other mutual support. I said, 'I'm supporting the ticket, with Lester on it.' I said, 'I'm proud to be on the ticket with Lester because his campaign style-not depending on powerful politicians for endorsements-was compatible with mine.' I said his inclination to campaign directly with the people, in the streets, in the factories, in the barber shops and beauty parlors, represents the essence...