Word: volckerism
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...building to curtail the deals. Colorado Democrat Timothy Wirth, chairman of the House Subcommittee on Telecommunications, Consumer Protection and Finance, has announced that he will study the effects of buyouts on the availability of credit as -part of an investigation of takeover tactics. Federal Reserve Board Chairman Paul Volcker, in a letter made public by Wirth, warned that the buyouts may expose companies to financial difficulties. The Federal Reserve, however, has so far declined to restrict lending for buyouts. Volcker says that measures like credit controls "would be very difficult to implement...
...later First Boston released revised figures for Argentina-related second-quarter profit declines that were not as gloomy: 36% for Manufacturers Hanover, 17% for Chase and 9% for Citicorp. In addition, Federal Reserve Chairman Paul Volcker down-played the June 30 deadline: "I don't think it's terribly significant. What is at issue here is a fairly limited number of interest payments." Chase shares stabilized and finished the week at 31⅛, but Manufacturers Hanover stock slipped another ⅝, to close...
...Philadelphia conference, Jacques de Larosière, managing director of the International Monetary Fund, and Paul Volcker, Chairman of the U.S. Federal Reserve Board, urged bankers to stretch out repayment schedules for Mexican loans and reduce that country's interest rates, which now run as high as 13.5%. Mexico deserves such a break, said De Larosière, because it has made substantial progress toward solving its economic problems. Since 1982 the country has cut a 100% inflation rate almost in half and doubled its annual trade surplus to $13.6 billion...
...advice from De Larosière and Volcker produced an immediate response from the bankers. Mexico's major creditors, led by New York's Citibank, announced that they were willing to renegotiate the interest rates and the timetable for payments. The banks remained reluctant, however, to grant similar concessions to other large Latin debtors because they have made less headway with their economic difficulties. Brazil's annual inflation rate is 210%, and Argentina's is an astounding...
...policy. The Administration, which has criticized the Federal Reserve for keeping interest rates high, hopes that the lanky Seger (6 ft. 1 in.) will be a strong ally. Says a senior Treasury official: "With high heels on, she may even be able to stand up to Fed Chairman Paul Volcker...