Protective umbrella still protecting depositors
FDIC safeguards small depositors since 1933, guaranteeing funds in bank failures. The agency funds insured deposits from all banks and has raised coverage from 2,500 to 100,000 by statute. FDIC use in 620 bank failures through 1982 and the 1983 Carthage event illustrate protections for ordinary savers and regional banks alike.
MENTIONED IN THIS ARTICLE
U.S
Federal Deposit Insurance Corp
FDIC
Carthage
Tenn
Smith County
James B. Benda
Independent Bankers Association of America
IBAA
Benda
William M. Isaac
Senate Banking Committee
Congress
Dollar hits record high against French franc in thin trading
The dollar rose to a new peak of 7.4650 francs in London as many European markets were closed for Whitsun. It also gained against the British pound to $1.5545 while other major rates edged higher. Gold fell about $5.50 an ounce in London amid light activity. In Tokyo the dollar strengthened for a third day, closing at 235.85 yen. London gold prices moved, Hong Kong closed, and silver fell in London.
MENTIONED IN THIS ARTICLE
London
Citibank
Tokyo
New York
Handy & Harman
Hong Kong
Zurich
Fed policy clash seen over money supply targets
Monetarists push for tighter credit as M-1 surges above 11 percent since late 1982 and near-term action is debated at the Federal Open Market Committee meeting. Roos urges reinstating M-1 as a primary target, while others warn of distortions and argue for cautious steps via open-market operations.
MENTIONED IN THIS ARTICLE
Federal Open Market Committee
Fed
Lawrence K. Roos
Federal Reserve Bank of St. Louis
Roos
Donald Maude
Merrill Lynch & Co
Federal Reserve
Trade reforms seen easing U S Japan relations in four years
U S Trade Representative Bill Brock hailed Japan's new customs procedures as a major gain for U S exporters in electronics, medical devices, pharmaceuticals, chemicals and consumer goods. Foreign testing certification is allowed for non Japanese products, easing non-tariff barriers though self certification by U S firms remains blocked for Americans. IMF funding criticisms arise from the National Taxpayers Union over staff salaries, countered by IMF notes on after tax terms.
MENTIONED IN THIS ARTICLE
U.S
Bill Brock
Brock
Japan
United States
Washington
Robert E. Lighthizer
National Taxpayers Union
International Monetary Fund
IMF
Buy American mood grows with price and tariffs debate
A Newsweek poll shows 55 percent favor higher trade barriers on some imports and 53 percent say they buy less imported goods than years ago, while 94 percent would choose American goods when quality and cost are equal. A Los Angeles Times survey finds 36 percent favor tariffs on Japanese autos despite many buying Japanese cars.
MENTIONED IN THIS ARTICLE
Newsweek Magazine
Gallup Organization
U.S
Los Angeles Times
Times
Newsweek
Brown bag lunch costs and the rise of brown baggers
A detailed look at how home prepared chicken salad lunches cost about 60 cents versus deli or gourmet options, with NYC prices for chicken bread and condiments. The piece cites the Brown Bag Institute and USDA data to show Americans buy billions of brown bag meals yearly, highlighting savings, dietary choices, and the cultural shift toward inexpensive, self packed meals.
MENTIONED IN THIS ARTICLE
New York City
Eoen
Brown Bag Institute
David Lyon
Institute
Westport
Conn
Department of Agriculture
USDA
U.S
Also Mentioned on This Page
Marsha Taylor
Newhouse News Service
Datal der
Ike
Natomas
Diamond Shamrock
Alaska
Conference Board
Treasury
Eason
New York Times
Prac
Joseph Bench
Shearson- American Express Securities Inc
Brock Hails
William Brock
By Sylvia Porter
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