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...Wilson risking his political reputation -- and more than $16 million / in expected campaign costs -- just two years after winning re-election to the Senate? The answer lies in California's increasing national political clout. In the 1992 presidential race, the state will account for 10% of the nation's electoral votes. The next Governor will also strongly influence a reapportionment process that could produce 14 contestable congressional seats in the 1992 election -- a boon for the Republican minority in the House. Moreover, the Governor's mansion in Sacramento served as a powerful presidential launching pad for Ronald Reagan, who once...

Author: /time Magazine | Title: California Greenin' | 2/26/1990 | See Source »

...Milken's clout grew, financial journalists described him as the most powerful financier since J.P. Morgan. But Milken's penchant for working by his own rules and controlling every situation proved to be his downfall. Drexel's huge profits and free-wheeling methods attracted the attention of federal prosecutors who believed that, among other offenses, Milken fed inside information to a network of traders to manipulate the stocks of his target companies. Prosecutors first snared Dennis Levine, a Drexel investment banker, who pleaded guilty in 1986 to four counts of profiting from insider trading. The Government then got Levine...

Author: /time Magazine | Title: Predator's Fall: Drexel Burnham Lambert | 2/26/1990 | See Source »

Gorbachev flatly denied the story next day, and no other news organization got even a shred of confirmation that resignation was imminent. But the furor demonstrated CNN's growing impact as the world's most widely circulated TV news network. It also raised questions about whether, given that global clout, CNN exercised due journalistic caution when dealing with a potential bombshell...

Author: /time Magazine | Title: Press: The Bombshell from Moscow | 2/12/1990 | See Source »

Early last week his advisers told Bush that his veto could not be sustained in Congress. Adamant, Bush and his combative chief of staff, John Sununu, insisted the White House must prevail if Bush were to convert his passive public approval to tangible political clout. In an interview with TIME on the eve of the China vote, Bush urged that Congress not "just seek confrontation in an election year." He warned, "I won't be any pushover...

Author: /time Magazine | Title: China Breach | 2/5/1990 | See Source »

...year after the schoolyard massacre in Stockton, Calif., gave gun control a new impetus, the N.R.A. looks for a way to maintain its clout. -- TIME poll describes a nation where many share a devotion to guns -- and a willingness to accept regulations. -- For and Against: leaders of the N.R.A. and Handgun Control speak about firearms. -- Washington Mayor Marion Barry may finally have run out of luck. -- The McMartin sex case abused children, defendants, judge and jurors for six exhausting years...

Author: /time Magazine | Title: Time Magazine Contents Page | 1/29/1990 | See Source »

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