Word: patman
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Dates: during 1970-1979
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...Federal Reserve's prime job is to prevent just such disasters. After Texas Congressman Wright Patman, an archenemy of banks and railroads, blocked the Nixon Administration's efforts to prop up the Pennsy with a $200 million loan guarantee, the Federal Reserve moved swiftly to steer the financial system out of danger. The board made a special point of offering to advance credit to commercial banks through its "discount window," providing them with much needed funds for relending to corporations that had to pay off commercial paper. The mechanism was conventional, but the need for speed...
...interest), the Time-Life poobah who saw no First Amendment dangers in newsmen being required to surrender their notes or tapes to Big Brother's agents in Washington, or the faculty-tie who severely lobbied in behalf of Foundations remaining untaxed despite those many abuses revealed by Congressman Wright Patman. President Pusey sat with us for two hours, staring at his shoes and compulsively rolling and unrolling his necktie to the limits of its extremities, telling us what a grand institution he runs...
John R. Bunting, president of Philadelphia's First Pennsylvania Banking & Trust Co., says that he wears "the longest hair and widest ties of any banker I know." That is only one reason why he often discomforts conventional colleagues, many of whom rank him second only to Wright Patman, the congressional curmudgeon, as the man they like to dislike. Bunting, a 45-year-old Presbyterian, has publicly castigated other bankers for discriminating against Jews, and has talked of adding youths under 25, consumer crusaders and even militant feminists to First Pennsylvania's board. He has also introduced "Earth Bonds...
Many Congressmen and Senators questioned whether the Government ought to come to the aid of any private company-large or small-with a record of sloppy management. The hardest blows were struck by Wright Patman, chairman of the House Banking Committee. A Texarkana Populist who detests both big city banks and railroads, Patman attacked the legality of the Administration's plan to guarantee the loans under the Defense Production...
...greatest economic clout. Credit controls have strong support in some parts of official Washington, though not in the White House. Congress last December gave the President stand-by authority to allow the Federal Reserve to regulate the terms, amount and interest rates of all forms of credit. Wright Patman, chairman of the House Banking and Currency Committee, last week denounced Nixon for not using that power. Within the Nixon Cabinet, George Romney has spoken in favor of credit controls. He complains that money that should be going into housing is being diverted to borrowers who have more economic "muscle...