Word: obtaine
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...culprit of the crunch is clearly the Federal Reserve's credit squeeze. Would-be house buyers are now finding it difficult to obtain money to borrow, and when they do, the rates are high enough to make any bail bondsman blush. The nation's average mortgage rate today is an astronomical 17%, vs. 11% late last year and 9% in 1977. Last November a family buying a $100,000 house would have needed an income of $36,500 to qualify for the normal $80,000 mortgage, and faced monthly payments of $761. Today, obtaining a mortgage for that...
...obtain action by the University to improve security...
Alternately folksy and businesslike, he denied the Government's charges that he had misapplied bank funds and filed misleading financial records to obtain about $1.3 million in loans. He stoutly defended his banking practices, reminiscing about the lesson he had learned in his first banking job, as a $90-a-month teller at the Calhoun (Ga.) First National Bank. One of his customers, Elsie Goforth, regularly put up a Guernsey cow named Spot as collateral on $100 loans. Once she defaulted and, to Lance's horror, showed up at the bank to surrender Spot...
...formidable: Deputy Assistant Attorney General Irvin B. Nathan, in giving the model but faint praise, called it "as constitutionally sound as possible, given its wide range." In congressional testimony Nathan went on to list the statute's potential drawbacks: invasion of privacy, increased bribe taking, and hard-to-obtain convictions...
...naturally reluctant to speak out about their working conditions for fear they will lose their jobs. But according to Howard M. Kowal '35, who prosecuted many labor cases as Boston's former New England Regional Attorney for the NLRB, the court injunctions providing reinstatement are almost impossible to obtain. Only in a "tremendous case" when workers' rights are blatantly violated and a large group dismissed, is there hope. Without an injunction, the reinstatement process usually takes more than two years...