Word: mutuals
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Dates: during 1960-1969
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...normally supply 44% of the money to finance homes; mutual savings banks and commercial banks each provide another 14%. Thus 70% of the $275 billion tied up in residential loans (mostly of 20-to 30-year duration) comes from passbook savings subject to almost instant withdrawal. When inter est rates rise rapidly, S & Ls and savings banks are caught in a pincers. To keep their savings accounts, they must pay higher interest, but their income from existing loans remains fixed. So they curb new lending...
...hastily hammered together by the White House kitchen staff, which had come up from Washington along with the food. During the meal, which was attended by Foreign Minister Andrei Gromyko, Secretary of State Dean Rusk and other top aides, Defense Secretary Robert McNamara spoke about the advantages of a mutual freeze on production of anti-ballistic missile systems. Gromyko replied with the standard answer: the Soviets need an ABM network for protection against U.S. missiles...
...should be continued. "We would like to have the opportunity," he said, "to sit down further and discuss aspects of the anti-ballistic missile system, nonproliferation, perhaps some questions arising out of the Middle East situation, and at least the situation in Southeast Asia, as well as questions of mutual interest in Europe and the Western Hemisphere." Later, Kosygin made a firm suggestion for the second session...
Flood Threat. Another theme of mutual interest was grandfatherhood, a status Kosygin had enjoyed for 18 years and Johnson for two days. Kosygin welcomed the President to the club, passed along a gold baby cup for Patrick Lyndon Nugent.* Grandchildren?and the world they will live in?became a frequent touchstone. At one point, Johnson told the Russian: "You don't want my grandson fighting you, and I don't want you shooting...
...Identification with all forms of life, beginning with the most humble-this principle, in a world where overcrowding makes mutual respect more difficult and that much more necessary, is the only one which can permit men to live together. In a cultivated society there can be no excuse for the only real inexpiable crime of man, that of considering himself abidingly or momentarily superior; be it for reasons of race, culture, conquest, service or merely expediency...