Word: 20s
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...that Peru had a "bad debt record, adverse moral and political risk, bad internal debt situation"-and then lent the country $90 million that was soon defaulted. Wall Street banks today have $48.7 billion in loans outstanding to Peru and other oil-poor developing countries. Consumers in the '20s had just discovered the installment plan and were plunging into debt to buy radios, refrigerators and that new Model A from Henry Ford. Their grandchildren now have "plastic money" in the form of credit cards and owe $292.5 billion. The '20s real estate boom was centered in Florida...
...from feeding a boom, a step it took last week. In addition, there was no watchdog Securities and Exchange Commission in 1929 (it was set up in 1934). Today the SEC closely polices financial markets to stop inside dealing and fraudulent company reports, which were rampant in the '20s. While a stock market fall is always possible, it is less likely now to ripple through the economy...
...NOTEBOOK: On hand to watch the weekend's matches was Fran Jennings, a Radcliffe tennis champion of the '20s. The USTA recently gave her its National Community Award for contributing to the teaching of tennis among the underprivileged
...heyday became the world's highest-paid star; in Capri, Italy. Born Grace Stansfield in the mill town of Rochdale, she sang at age eight in the local cinema. Though never a beauty and hardly a diva, she set music halls roaring in the '20s with her cheeky Lancastrian banter, stouthearted warbling and flea-scratching, "low-but-clean" brand of clowning. Her 1931 film debut in Sally in Our Alley gave her a theme song, Sally, and endeared her to all England as "Our Gracie." During World War II she toured wherever there were Allied troops and then...
...even enlists the original performers: Ethel Merman belts Anything Goes and Gemze de Lappe dances Oklahoma!'s dream ballet as if these shows had never closed. Bobby Van and Bernadette Peters, who were not born when Good News opened, summon up the sentimental performing style of the '20s so well that their rendition of The Best Things in Life Are Free is surprisingly touching. There is also an unexpectedly fine turn from John Davidson, whose Vegas slickness dissipates when he leads the chorus in Oklahoma! Only Carol Burnett and Sandy Duncan disappoint: their broad delivery blunts...