Word: cash
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Dates: during 1980-1989
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...Books that paid Wolfe an estimated $5 million to $7 million. Says Roger Straus III, the publishing house's managing director: "It's a terrific strain on us. It's like a Monopoly game out there, and everybody has play money, but we're buying Park Place with real cash...
There has not been a municipal audit since 1985, but estimates of current debt run as high as $40 million. The city's mercurial third-term mayor, Carl Officer, 37, has gone so far as to propose selling city hall and six fire stations to raise cash, assuming anybody would buy them. City employees routinely get paid a month or more late...
Congressmen can also take in cash directly by giving speeches for honorariums -- a misnomer, since little honor is involved. Consider the $2,000 the Oshkosh Truck Corp. paid each of six members of the House Armed Services Committee on April 1, 1987, for coming to breakfast. The eggs had barely been digested when, a few hours later, an Armed Services subcommittee voted to purchase 500 more trucks from Oshkosh than the Army wanted...
...people who can lavish money on them. Members of Congress take to calling their contributors friends. The confusion makes for some convoluted rationalizations. A friend, the reasoning goes, can cut a member in on a lucrative investment, treat him to a luxurious vacation and supply him with cash, not because he has an interest in a one-line amendment to a bill that will save his industry millions of dollars, but because he is, well, a friend. Perhaps Tony Coelho really believed it when he said that junk-bond wizard Michael Milken "is constantly thinking about what can be done...
...time before they are allowed to lobby their former colleagues. But disclosure works for Congress only if constituents have the opportunity to pore through the voluminous reports and then vote based on what they find there. This welter of regulations has done almost nothing to choke off the cash flow...