Word: rushing
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Dates: during 1960-1969
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...that Saturday's Kentucky Derby would be the dullest in years. But yesterday afternoon, the ninety-fourth running of America's most famous horse race turned into one of the most bizarre incidents in sports history. Boston-owned Dancer's Image, who won the race with a dramatic closing rush in the stretch, was disqualified and placed last on the charge of being drugged--presumably by his trainer...
Even while he was still Secretary of Health, Education and Welfare, John W. Gardner was forever receiving feelers from universities casting about for new presidents. Since he announced his resignation from the Cabinet last January, the rush to his door has become a traffic jam. Besides being beseeched by publishers for book manuscripts and magazine articles, Gardner has received firm offers of four university presidencies, not to mention at least two dozen directorships of schools, foundations and corporations...
...first result of the 51% discount rate, highest since the 6% rate posted by the New York Reserve Bank for three months in 1929, was a rush by commercial banks to lift their minimum lending rate from 6% to a record 61% annual interest. That "prime rate," as bankers call it, applies to borrowing by their bluest-chip corporate customers. Other interest rates throughout the economy scale upward from that level. Bankers predicted that loans will now grow costly enough to crimp small businessmen, capital-goods industries and local government construction projects. Worst hit, as usual, will be new housing...
...Western may join the Hawaiian rush with flights not only from Western and Midwestern cities, but also from Anchorage, Alaska...
...reluctance to raise its own discounts and add more upward pressure to housing costs results in a rush to dump loans on Fannie Mae. The association's resources get swamped, and it is forced to curtail purchases just when they are needed most to sustain housebuilding. When Fannie Mae moves to charge an increased discount, private lenders demand still larger ones. In its effort to conserve dwindling funds during the 1966 credit squeeze, Fannie Mae refused to buy loans larger than $15,000-a decision which Lapin says led to "pernicious inequities and market distortions" because "high-cost areas...