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...play. Using what they thought to be sophisticated, computer-guided trading strategies based on a secret computer program code-named Arnold, Drysdale's two top dealers, Richard Taaffe, president, and David Heuwetter, chief trader, managed in little more than three months' time to amass an astonishing $4 billion-plus portfolio of borrowed U.S. Treasury securities...

Author: /time Magazine | Title: Wall Street's Panic That Wasn't | 5/31/1982 | See Source »

...budget would be passed intact was lost at midweek when Republican Senator Pete Domenici of New Mexico, one of the Administration's key budget operatives in Congress, declared his opposition. Said Domenici: "Political leaders do all a disservice by pretending that we can swallow $100 billion-plus deficits as though they were aspirin tablets." Offering his own remedy for the deficit headache, he proposed trimming defense spending by limiting its growth to 5% after inflation, thereby saving $20 to $25 billion over the next three years. His plan also called for freezing the costs of all domestic programs...

Author: /time Magazine | Title: Bubbles in the Red Ink | 3/8/1982 | See Source »

Analysts estimate the replacement market to be worth $55 billion, yet neither Fokker nor McDonnell Douglas alone has the $1 billion-plus in development costs for such a plane from the wheels up. Fokker, though, has done extensive work on exactly the sort of brand-new fuel-efficient, medium-range jet the market requires. The new venture will be a giant gamble, but Swarttouw calmly says, "There are two ways to go broke. Do nothing, or do something...

Author: /time Magazine | Title: Dutch Treat | 5/18/1981 | See Source »

SALT should be supported; it is a positive, albeit small, second step towards regulating an increasingly dangerous and costly nuclear weapons competition. But it is far from the answer to the dreams of arms controllers; and if it encourages the U.S. to spend $100 billion-plus on new strategic systems, it has not served its function and will not be worth further support...

Author: By Paul Walker, | Title: The Myths of Defense | 5/4/1979 | See Source »

...university from 38,000 students on 41 campuses to 244,000 on 72. He added 50 state parks, 100,000 new housing units, 109 hospitals and nursing homes, and 348 sewage-treatment plants, which have effectively reduced pollution in the upper Hudson. His most controversial construction was the $1 billion-plus Albany Mall, an immense Brasilia-like complex to house the state government. It was denounced as "Rocky's Erector Set," but it is now a favorite of government workers and tourists alike...

Author: /time Magazine | Title: Nation: The Champ Who Never Made It | 2/5/1979 | See Source »

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