Word: pay
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Dates: during 1970-1979
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Bonds took an especially bad beating, since they usually pay fixed rates of return to investors and have values that fluctuate in accordance with overall interest rates in the economy. When interest rates rise, bond prices go down, and last week they fell through the floor. IBM had an offering of some $1 billion worth of notes and debentures, but many remained unsold when bond prices collapsed last week, leaving the underwriters with a loss of as much as $25 million...
Moreover, the definitions of money do not include a whole array of newfangled financing and banking techniques. These include money market mutual funds, which have grown from nothing seven years ago to more than $36 billion now. The funds put investor deposits into government and corporate securities that pay more than twice what is available in regular bank savings accounts; they also permit check writing against the investments, making the whole concept rather like super high-paying checking accounts. People are now putting money into these funds at the rate of $500 million a week...
...bizarre plot. Starbuck's biggest claim to fame, for example, amounts to a piddling job in the Nixon administration as the President's Special Advisor on Youth Affairs. His office, hidden in the dank basement of the White House, becomes the resting place for large sums of illicit Watergate pay-off money, and when the break-in and cover-up arrests are made, he is duly escorted to a minimum-security prison in Georgia--undergoing the pains of prison minus the Watergate infamy...
Israel and the Arab nations also must pay more attention to the plight of the Palestinians. But a change in the American policy toward the PLO would make it more likely for other countries to follow suit. Israel Foreign Minister Moshe Dayan already has met with PLO sympathizers--a significant step forward indicating that Israeli policy with respect to the Palestinians may not be as rigid as most people believe, particularly if the next prime minister adopts a more moderate position than Begin's entrenched opposition to a palestinian state...
...walking irony, standing at the crest of Boston Common. Caesar's men fought for the right to pay his way. They swept out the winos, bums, petty thieves and rapists who populate the Common until the Boston cold runs them out in November just to bring him there and hear him say: "...it is part of your task in the world and the Church to reveal the true meaning of life where hatred, neglect or selfishness threaten to take over the world...Faced with problems and disappointments, many people will try to escape from their responsibility: escape in selfishness, escape...