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Word: nonliquid (lookup in dictionary) (lookup stats)
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Crisis loomed over one big segment of the money market: the savings and loan associations. Tempted by higher yields elsewhere, depositors withdrew $1.5 billion from the S & Ls in July. Government money managers were so worried that dangerously nonliquid S & Ls would go under that the Federal Home Loan Bank Board, which regulates the associations, arranged a $4 billion stand-by loan with the Treasury and hoped to get $5 billion more from the Federal Reserve - if needed. Says one high U.S. Treasury official: "The withdrawals scared the hell out of us. The savings and loan people were hysterical...

Author: /time Magazine | Title: The Economy: The Year of Tight Money And Where It Will Lead | 12/30/1966 | See Source »

Ross distrusted most of those who wrote for The New Yorker, says Thurber. "He nursed an editorial phobia about what he called the functional: 'bathroom and bedroom stuff.' Years later he deleted from a Janet Planner 'London Letter' a forthright explanation of the nonliquid diet imposed upon the royal family and dignitaries during the coronation of George VI. 'So-and-so can't write a story without a man in it carrying a woman to bed,' he wailed. And again, 'I'll never print another [John] O'Hara story...

Author: /time Magazine | Title: The Press: ROSS THE EDITOR | 11/4/1957 | See Source »

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