Word: 1960s
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Dates: during 1970-1979
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Despite all the attention paid to strategic weapons, experts are nearly unanimous that the U.S. would be making a dangerous error if it continued concentrating as much as it has on the nuclear balance. As long ago as the mid-1960s, when targets in the U.S. first became vulnerable to Soviet ICBMS, the threat of massive nuclear retaliation lost some of its credibility, and thus some of its ability to deter Soviet aggression. Would U.S. leaders really defend Western Europe by launching a nuclear strike against the U.S.S.R. if that could trigger a devastating Soviet counterstrike at New York...
...signs of the growing power and diversity of the Soviet armed forces are more striking than the U.S.S.R.'s development of aircraft carriers. Though the Soviets built two helicopter-carrying warships in the 1960s, it was not until 1976 that they produced their first true carrier, the 38,000-ton Kiev. Last February came her sister ship, the Minsk, and two more of the same class are being built...
That apparently ended the legal troubles that had dogged Cornfeld for seven years since the fall of I.O.S., which he started in the 1950s and built into the world's largest offshore investment com bine. At its peak in the late 1960s, I.O.S. managed assets totaling more than $2 billion in mutual funds alone; armies of I.O.S. "reps" rang doorbells everywhere to persuade people to put their savings into one or another of I.O.S.'s 130 in vestment outlets. Cornfeld, a onetime social worker, proclaimed that "everyone can be a millionaire." As if to prove it, he lived...
Cornfeld's fortunes tumbled with the end of the bull market on Wall Street in the late 1960s. I.O.S. shares, which had been going for as much as $25 in mid-1969, were selling for 400 by late...
...world, not one firsthand remark about his methods or aims has survived. In fits of depression, he destroyed part of his output; much of what he did not burn has been lost, and about half of his surviving late work was altered by a "restorer" in the mid-1960s. In almost every way, Bruce wrote and stamped his own ticket to oblivion...