Word: bankes
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Dates: during 1970-1979
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Rousseau's definition of happiness-"a good bank account, a good cook and a good digestion"-would draw no argument from the trio of chefs, amateur and pro, in the accompanying photograph. The one in the sports coat presiding over the feast is George Lang, New York-based chef, author and international restaurateur. Lang's short list of favorite books on cooking is a part of this week's cover story on the growing U.S. love affair with the kitchen. The pair in the chefs' hats with Lang in his Manhattan kitchen are TIME...
...TIME'S survey, 39% felt that the Israelis were doing everything possible to bring about a peace settlement, but 33% regarded Israel's demands and attitudes as unreasonable; 28% were not sure. On a related question, 42% thought Israeli fears about a Palestinian state on the West Bank were reasonable, 31% unreasonable, and 27% were unsure. A minority (29%) believed that the Carter Administration had unfairly pushed the Israelis to make concessions; 50% disagreed, and the rest were not sure...
Okun has a different fear. Since the Federal Reserve has been unable to contain the growth of money supply by the usual method of moving funds in and out of the banking system, it is trying to hold down the money stock by pushing up borrowing costs. Since the start of 1977, the prime rate on bank loans to business has risen from 6¼% to 7¾% in November. Okun's fear is that the board will lift interest rates high enough to discourage borrowing and cause a recession in 1979. Says he: "The Federal Reserve...
...result, small investors have pulled out of the market by the millions to put their money into bonds, land, coins, wine-anything that is either tangible or seems less risky than shares. Trading consists mostly of transactions between the big institutions: mutual funds, pension funds, bank trust departments. And managers of the pension funds, who invest more than $100 billion, have a special reason for worry: Congress in 1974 passed a law permitting receivers of pensions to sue managers of the funds for poor investment performance. Fearful fund managers have adopted a supercautious strategy, setting themselves the modest goal...
...Lawrence Lowell, Class of 1877--may shed new light on the controversy which has swirled around the case since 1927, when the two self-proclaimed anarchists--Nicola Sacco and Bartolomeo Vanzetti--were arrested, tried, convicted and executed in connection with a double murder that took place during a bank robbery...