Word: withheld
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...created empires is subsidized by Presidents and dictators partly because it can provide spiritual justification for political ambitions. Egypt, for example, funnels vast sums of money into the propaganda outlets of the Supreme Islamic Council, which praises Nasser almost as much as God. But favors given could be favors withheld when they no longer fulfill a national purpose. Islamic nation-states increasingly take their ideas and institutions-such as penal codes and constitutions-from the secular experience of the East and West, rather than the Shariah (religious...
...profitable 707s for a newer plane with mixed advantages. The problem makes even bleaker the prospects for the British aviation industry, which has been in a steady decline in recent years. British Aircraft's earnings fell last year from $5.5 million to $2.8 million and the company withheld dividends, as Chairman Lord Portal euphemistically explained, "to provide against possible under-recoveries on development...
First, Federal Reserve Chairman William McChesney Martin complained to Arkansas Senator John McClellan's Senate Investigations Subcommittee that Saxon withheld confidential evidence of irregularities at the San Francisco National Bank, thus misleading the Federal Reserve into lending the bank $9,260,000 when it was about to fail. Two of Saxon's own aides not only confirmed this lack of communication but added that Saxon waited eight months to tell the Justice Department about indications that the bank's president was accepting kickbacks for approving loans...
Through all this, Saxon remained untypically silent, though he did write the Federal Reserve denying that his men had withheld any reports that "it requested." But the revelations of friction between the Comptroller, the Federal Reserve and the Federal Deposit Insurance Corporation, all of which now divide the task of bank regulation, produced strong demands for some sort of reform. In a San Francisco speech, James L. Robertson, one of the Federal Reserve's seven governors, declared that today's "tangle of overlapping responsibilities, conflicting philosophies and procedural cross-purposes cannot be tolerated much longer." Merely "knocking heads...
...shared his dislike for India. Within six months, Ayub had signed a trade pact with China, a border agreement that threw Chinese support behind Pakistan's demands for disputed Kashmir, and a contract that established joint airline service between Karachi, Dacca, Canton and Shanghai. With that, the U.S. withheld a $4,300,000 loan for an airport at Dacca, arguing that it was hardly prepared to serve Communist Chinese air travelers. But overall U.S. aid to Pakistan continued at nearly $400 million a year...