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...service loan-seeking Communists, several American banks have opened offices in Eastern Europe. Bank of America, Citibank and Chase Manhattan have all gone into Moscow. Manufacturers Hanover Trust has an office in Bucharest, and First National Bank of Chicago has one in Warsaw. The business has been lucrative. Commissions and miscellaneous fees can add up to $2 million on a $200 million loan-and that does not count later collections of interest. In addition, Communist countries have a good record of paying debts promptly. Says one American banker: "There is a lot of merit in lending to a stable, centralized...

Author: /time Magazine | Title: EASTERN EUROPE: Now, Credit-Card Communism | 9/6/1976 | See Source »

...discreet concern about Comecon's mounting pile of debt. The Basel-based Bank for International Settlements has noted that the ratio of debts to exports -which determines a country's ability to repay loans-has reached a high level in some Communist countries. Bank of America, Citibank, Chase Manhattan and Manufacturers Hanover all conspicuously took no part in a recent $250 million loan to the Soviet Union's Foreign Trade Bank. Some Western banks are also trying to raise interest rates charged to Communist borrowers. They had been tacking a 1.25-percentage-point premium onto whatever rate...

Author: /time Magazine | Title: EASTERN EUROPE: Now, Credit-Card Communism | 9/6/1976 | See Source »

Parker recreates old movie clichés with shameless abandon: a car chase is routed through a barn, from which the autos emerge covered with straw and squawking hens. Fat Sam's speakeasy has a janitor (played by a winning, wistful Albin Jenkins) who mops floors and dreams of being a tap dancer. Parker reproduces, in the character of Blousey. the goody-goody bitchiness that made the "nice girls" of gangster flicks such eminent candidates for strangulation. The hoofing is exuberant and surprisingly adept, even if Paul Williams' musical score is a little slick. The whole movie...

Author: /time Magazine | Title: Cinema: Little Caesars in Never-Never Land | 9/6/1976 | See Source »

...Douglas Kiker fought his way to Betty Ford in a dead heat with CBS's Sylvia Chase, but gracefully let her go first. Even NBC'S Pettit, a raging bull at Madison Square Garden last month, was a model of courtliness, standing by patiently while Mudd of CBS beat him to an interview with former Missouri Representative Thomas Curtis. "The kind of abrasiveness that was customary and sometimes necessary in 1968 is out of place now," explained Dan Rather. "We're a little cooler headed...

Author: /time Magazine | Title: The Press: The Made-for-TV Convention | 8/30/1976 | See Source »

...dinner table of their white brick home in Chevy Chase, Md., Charles Mathias and his wife Ann were talking about an unhappy afternoon that he had just spent in the Senate. The President had moved to weaken the food stamp program, which Mathias strongly supported. His wife, who is not easily rattled, closed her fist on the table and said: "How much longer can we go on like this? Wouldn't it be better if we changed parties...

Author: /time Magazine | Title: The Nation: LIVING WITH THE SCARLET LETTER | 8/23/1976 | See Source »

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