Word: overdraw
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Dates: during 1970-1979
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...loans from New York's Manufacturers Hanover Trust Co. and Chemical Bank? Why did the Justice Department close its investigation into the Calhoun overdrafts the day before Lance was nominated as OMB director? Was it really common practice, as stated by Jody Powell, for small-town bankers to overdraw their accounts? And why was only a cursory mention made of the comptroller's investigation during Lance's confirmation hearings? Could internal memos at Manufacturers Hanover Trust be so specific about a 20% compensating balance between NBG's correspondent account and Lance's personal loan...
...taxed at an average rate of 63%, which makes the inflation hurt more. Fairly typical is Esther Mizrachi, 38, a Jerusalem housewife, who says, "If we can pay for our food and our children's education, we'll feel lucky." Yet the Israelis manage somehow; they overdraw on checking accounts to meet food bills, artfully dodge a tax law here and there. Though a Volkswagen Beetle costs $8,000 (excise taxes nearly triple the price of all cars), the number of private autos has nearly doubled since...