Word: lender
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Dates: during 1960-1969
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...corporations have been able to sidestep these problems by selling stock instead of bond issues. Developers of office buildings, apartment houses and shopping centers can arrange mortgages by giving the lender a share in the revenues or profits. These expedients are not available to home buyers or local government units that must sell bonds, and some authorities think that much more radical changes in the markets will be required if they are to raise the cash that they need. Sidney Homer and Economist Henry Wallich, among others, have seriously suggested that mortgage and bond issuers may have to pay variable...
...wife now live in a leased trailer on their hurricane-stripped lot. His insurance company offered to pay only 25% of his claim, says Ryals, so he has hired a lawyer to sue for more. That may take considerable time, and in the interim the lender is threatening to foreclose the mortgage that covered his lot and vanished home...
...Unfriendly investigations have been pointing out flaws in the ABM and other weapons programs. Still another committee is scrutinizing overseas military deployment and commitments. Once friendly Senators, such as Democrats Stuart Symington of Missouri and Allen Allender of Louisiana, have emerged as critics. "Some of us in Congress," El-lender said last week, "have become captives of the military...
...little commotion was that it had been anticipated in banking circles for weeks; the only question was which bank would start it. New York's Morgan Guaranty Trust Co. took the reluctant first step. The bank is, after all, well attuned to credit pressures. A leading corporate lender, it was one of the banks most severely squeezed in the "credit crunch" of 1966. This time, the Federal Reserve Board's policy of gradual "disinflation without deflation" has kept U.S. banks at some distance from anything like the 1966 crisis. Though forced to pay interest as high...
When a U.S. bank wants to raise cash, it can sell some Treasury bonds, issue certificates of deposit, or repatriate Eurodollars from its branches overseas. If it is a member of the Federal Reserve System, it can also appeal to "the lender of last resort"-the system's discount window. The price is high. Besides paying interest, currently 51%, the bank must submit to scrutiny that is even closer than usual. As a result, only 1% of credit extended to the banks has been passing through the Fed's discount window in recent years...