Word: walls
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Dates: during 1960-1969
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...important innovation, mothered out of necessity after the U.S. began curbing its money exports, is the big and free "Eurobond" market, which rallies currencies from many countries. Conceived and usually underwritten by Wall Street bankers, the bonds are floated for borrowers as diverse as South Africa's De Beers, France's state-run P.T.T. telecommunications monopoly, and U.S. subsidiaries abroad. They are sold to oil sheiks and other wealthy individuals, and reportedly, the United Nations pension fund and the Vatican. From almost nothing in 1963, the volume of these bonds rose to $2.1 billion last year, mostly...
...year. Only three weeks before the Winter Games, she severely strained the ligaments in 'her left ankle. The experts should have remembered what a gutsy competitor she is. In the 1966 World Championships at Portillo, Chile, she caught an edge in the downhill and somersaulted into a retaining wall at 60 m.p.h. "I've never seen any girl take a worse fall," said French Ski Coach Honoré Bonnet. "I didn't expect her to get up again." Nancy got up all right-with a badly bruised right elbow and a broken coccyx. Three days later...
That rate reflects Wall Street's disquiet over the huge federal budget deficit, which portends gigantic federal borrowing and still higher interest rates in the months just ahead. The 6.45% return applied to Federal National Mortgage Association "participation certificates"-shares in a pool of Government-owned mortgages and other loans. They were available to the public in minimum lots of $5,000. Though not a direct obligation of the U.S. Treasury, the participation certificates come close to that gilt-edged status because the Attorney General has ruled that they are backed by the full faith and credit...
Ironically, last week's sale served to stir up potential trouble in another quarter. Wall Street called it "the great money rush." Enticed by the 6.45% return on a Government-backed security with interest payments every six months, salesmen and secretaries, doctors and housewives overwhelmed traders with buying orders. One result was an unexpected drain on savings banks, one of the major sources of mortgage money. If it continues, the outflow could lead to another shortage of home loans-the very kind of shortage FNMA was created to help prevent...
Some two years ago, Wall Street whiz-bang Meshulam Riklis assigned himself a Herculean task. He aimed to take over Schenley Industries, Inc., one of the nation's biggest distillers (1967 sales: $518 million), through a merger with Glen Alden Corp., part of the $1.4 billion sales complex that Riklis, 44, has shuffled together...