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...truth and promised to follow his "instincts of openness and candor." Time and again Ford talked about his "friends," not once mentioning enemies, domestic or foreign. Implicitly, he criticized his predecessor by stating his belief that "truth is the glue that holds Government together." Ford acknowledged that that bond was "stained," both at home and abroad, and described the internal wounds of Watergate as "more painful and more poisonous than those of foreign wars." At the same time, Ford urged that Americans pray for Nixon and his family. His voice broke and his eyes clouded as he said...

Author: /time Magazine | Title: THE TRANSITION: ENTER FORD | 8/19/1974 | See Source »

...feel less of an alien among these backward people. In the three tense days of preparation he senses his impending death, almost kills the leader of the peasant band, and agonizes over the suffering his mission will surely bring them. But, underlying all, he feels a simple, common bond of humanity with the Spaniards that prevents him from ever questioning the necessity of what he has been instructed...

Author: By Michael Massing, | Title: The Bell Tolls for Thee | 8/6/1974 | See Source »

...curb demand by keeping a firm rein on money supply. The rate of money expansion has shrunk from about 12% in February and March to less than 7% in the second quarter. That policy has made it too costly for many companies to raise money in the long-term bond markets and virtually dried up capital in the stock market. It has also hammered the housing industry into its worst condition since the end of World...

Author: /time Magazine | Title: POLICY: Oldtime Religion v. Inflation | 8/5/1974 | See Source »

...would prefer to go to college. In 1948 he was graduated summa cum laude in economics from New York University. He worked for The Conference Board (a business research group) for a while, then founded his now-thriving consulting firm in 1953 with William Townsend, a Wall Street bond trader, who died in 1958. Presently a bachelor, Greenspan was married for one year before a divorce...

Author: /time Magazine | Title: ECONOMISTS: Super-capitalist at the CEA | 8/5/1974 | See Source »

...payments and decrease chances that a fast shuffle of oil dollars from one currency into another would provoke international monetary chaos, if the investments are not short-term. Crucial details, including how much the Saudis would invest and at what interest rates, remain to be worked out. But Old Bond Trader Simon was confident that as much as $5 billion to $10 billion might be involved. "I had no trouble selling them," he said. "They were already agreed in principle...

Author: /time Magazine | Title: OIL: Prospects for Price Cuts | 8/5/1974 | See Source »

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