Nixon White House Tapes — Conversation 002-031
Date: Thursday, April 22, 1971 at 8:23 PM
Participants: Nixon, Richard M. (President); Connally, John B.
Recording device: White House Telephone
Source: https://www.easynixon.org/tapes/002-031

This transcript was generated automatically by AI (WhisperX) and has not been reviewed for accuracy. Do not cite it as authoritative.

[0:00] Hello.
[0:01] Mr. President, I have Secretary Connolly asking to speak with you.
[0:04] Fine.
[0:04] All right.
[0:06] There you are.
[0:07] Hello.
[0:08] Mr. President, I'm sorry to bother you.
[0:09] It's all right.
[0:10] I'm sure you've been told, but the Chase raised their prime rate this afternoon.
[0:15] Raised it?
[0:16] Yes, sir.
[0:16] From five and a quarter to five and a half.
[0:18] And I put out a statement.
[0:20] right on the heels of it the minute i heard it i just said i'm extremely disappointed good that i knew of nothing uh i didn't i have no knowledge that the loan demand had reached such proportions that an increase in the prime rate was justified good good good good and uh in addition i've got charlie walker calling on the west coast he's talked to arbuckle of wells fargo he's talking to peacock of crocker citizens good and there's a good chance that peacock
[0:50] who is under Solomon out there, you know.
[0:53] Yes.
[0:54] That's Crocker Citizens.
[0:55] We'll issue a statement saying we're not about to raise our prime rate.
[0:58] We're tired of just following like sheep the eastern banking institutions.
[1:05] Good.
[1:05] And we're prepared to loan to
[1:07] uh money at five and a quarter percent as long as we got a dime left we're not about to raise our prime good good i don't know whether they'll do it we're trying to promote this type of uh well your your statement though is good the fact that we're against this sort of thing is just good to say it well i just thought i ought to i ought to test because i didn't know when you might uh that's all right get caught on the phone or something but don't worry i'm for i'm for it all the way all right sorry about you it's all right thank you all right