Word: bigs
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Dates: during 1960-1969
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...group's goal, says Blough, is to achieve "stability" in the construction industry-an obvious euphemism for forming a united front of big corporations to stiffen contractors' resistance to union demands, even at the price of construction delays...
Fears of Recession. The big fear among bankers is that the Federal Reserve will misinterpret the decline in interest rates, which bankers regard as a sign that tight-money policies are succeeding in cooling the economy. If the Board instead concludes that lower rates signify that the nation's money supply should be tightened even more, the resulting squeeze on banks could have serious repercussions. Bankers are not alone in believing that, at the worst, additional tightening could provoke a recession. Raymond J. Saulnier, Eisenhower's last chairman of the Council of Economic Advisers, warned last month that...
Hungry Speculators. The swings tell less about Natomas than about the desperation of speculators and other investors to find a new outlet for their money. "People are hungering for something to get action out of," says Robert T. Allen, vice president of Shearson, Hammill & Co., the big Manhattan brokerage house. Especially hungry are the managers of "performance" mutual funds and hedge funds, both of which have sold themselves to investors on the promise that they could select stocks that would surge ahead no matter what the rest of the market did. The stocks that most of them selected-computer, conglomerate...
...order to move into new fields, insurance companies have been forced to alter their corporate structures. Some 400 investor-owned insurance companies, including nearly all the big ones, have turned themselves into subsidiaries of newly created holding companies during the past few years. These are free to invest and diversify in ways that insurers have been forbidden to do directly...
Rise of the Interests. When the New Deal was launched in 1933, a new age of liberalism seemed about to be born. After long years of struggle with private interests, liberals in favor of big government* were now in control. In their hands, government swelled enormously and impinged on individual lives as never before. But things were not as they seemed, says Lowi. Rather than effectively applying federal power, the liberals were paradoxically parceling it out to a variety of special interests-some old, some new and better organized. It was not the Federal Government but blocs of farmers...