Word: tighteners
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...Banker Wallenberg, one of the chief reasons undeveloped countries today cannot find the foreign capital once readily supplied is that the savings in the industrialized countries are too low for the need. With money short all over, they have had to tighten up on credit and interest rates to check inflation, bringing on a survival-of-the-fittest competition among borrowers. Therefore, "projects with relatively low earning power...
...question was: Which coach would outguess the other? "Miami runs like hell, and they may pass, too. I don't know what to do," moaned North Carolina Coach Jim Tatum. Big Jim even telephoned to Georgia Tech's clever coach. Bobby Dodd, for some last-minute advice. "Tighten up the middle if you want to stop Miami's power," Dodd warned him. Concluded Tatum: "I guess I'll just contain...
...early postwar years, under FHA's Section 608, builders could put up middle-income housing with FHA help without tying up a large amount of capital. But in 1954 a spate of scandals broke about .builders who made windfall profits under 608. In its zeal to tighten up, the FHA overdid things. Even though the windfall profiteers were only a handful among thousands of honest builders, FHA now suspiciously administers its new 207 program, sets extremely rigid standards, digs through construction figures long after it has approved-threatens builders with future disapproval if they balk at making changes. Result...
...Klein & Saks program. The Congress refused a 20% cut in government staff, and government expenses rose this year instead of dropping, as planned. It also balked at an antitrust bill to curb monopolistic, inflationary practices in the lumber, paper, cement and tobacco industries. Meanwhile, the government itself hesitated to tighten collections of income taxes, which are high in theory but evaded in practice. And the armed services continued to waste money; e.g., the Navy still keeps in commission the Almirante Latorre, probably the only relic still afloat from the 1916 Battle of Jutland, where it was a British dreadnought...
WEST GERMAN INFLATION will be eased by 25% tariff cut designed to spur import of low-cost foreign goods, trim West Germany's $4.95 billion gold and foreign-exchange reserves, which are mounting at rate of $1 billion a year. To tighten domestic money supply the Bank Deutscher Laender (the government's central bank) will also lend $100 million to World Bank at terms of from one to three years at 4¼% interest...