People on low income can apply to the government-run Social Fund for interest-free crisis loans, but these are discretionary and repayment is on the government's terms.
In Appendix A to Treasure Island, Robert Louis Stevenson, who, as author of Dr. Jekyll and Mr. Hyde, knew more than a little about psychosis, wrote of maps, "I am told there are people who do not care for maps, and find it hard to believe...here is an inexhaustible fund of interest for any man with eyes to see, or twopence worth of imagination to understand with".
One reader, Bruce Daggy, wrote me wondering how people like himself, who are looking to invest their savings at better than bank rates, could "invest" in a fund for low interest auto loans for people like Tammy Trahan (see last week's column).
The federal funds rate, for interest on overnight loans between banks, is now 1.25percentt.
States using some or all of their money for housing have designated it for a wide variety of programs, like a small fund for low-interest loans to build housing in low-income neighborhoods, in Virginia, and Ohio's sweeping plan to demolish abandoned property.
Of the two, Turkey is the more immediate concern, with the International Monetary Fund calling late last year for interest rates to be raised by 2.5 percentage points to tackle 8% inflation.
The state shouldn't be in the business of collecting political funds for special interest groups.
[Why?] "Too many investors," says Robert J. Butler of the Kemper Municipal Bond Fund, "don't understand that they buy a fixed-income fund for the annual interest return and not for a profit".
Mr. Abubakar was suspended over allegations he had diverted $125 million from a government fund for personal business interests.
He gave them meals, gifts, trips and sports tickets in exchange for political sway that helped him secure millions in federal grants and funding for his interests.
Accordingly, he first created a fund for agricultural loans at interest to farmers, who were thereby spared the exorbitant demands of moneylenders.
