Word: chairman
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Dates: during 1980-1989
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...giving banks an invitation to shoot craps with the taxpayer's money." So said Michigan Democrat John Dingell, chairman of the House Energy and Commerce Committee, with a touch of hyperbole. The object of his barb: a Fed ruling last week that will permit five leading bank holding companies -- Bankers Trust New York, Chase Manhattan, Citicorp, J.P. Morgan and Security Pacific -- to buy and sell corporate bonds. The decision will enable the financial institutions to move, within strict limits, onto the turf of Wall Street firms, which have been encroaching on the banking business. Said Richard Huber, an executive vice...
...acted in part because Congress failed last year to pass legislation that would reform the 1933 Glass-Steagall Act, which erected walls between the banking and securities businesses. The landmark statute is widely viewed as outdated, but many legislators, including Texas Democrat Henry Gonzalez, chairman of the House Banking Committee, contend that the Fed has wrongly usurped congressional powers to oversee the banking industry...
...years later, Brown is embroiled in a contest in which the racial clauses are unwritten but not unspoken -- the election of the chairman of the Democratic Party. "The Democratic Party is the last, best hope of this country to deal with issues of race, region, religion and ethnicity," he says as he hops around the country in a Gulfstream jet loaned by the United Food and Commercial Workers union. "This election has become a test of that...
Many of those involved in choosing a new party chairman say -- as did the frat brothers at Sigma Phi -- that they like Brown personally but worry about the effect his election would have on the party. "Ron is a great guy, talented, intelligent and articulate," says Senator John Breaux of Louisiana. "But I think he's the wrong person at the wrong time and the wrong symbol." Brown refers to this as his "but" problem. "My goal is to make it more difficult for people...
...longer Brown campaigns, the closer he gets to this goal. Though he is running against three former Congressmen and one state party chairman, all white, he is clearly in the lead. That has put the party in a bind: his election would alienate many whites, but a last-minute defeat would be seen as an abandonment of party principles. Because of his connection to Jackson and, yes, his color, Brown's talents as a cajoler and conciliator have been thoroughly tested during this campaign. If he succeeds in becoming the symbolic leader and video face of a party that...