Word: crash
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Dates: during 1980-1989
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Hastening to restore confidence in its imprimatur, the FDA last week launched a crash program to re-evaluate 30 of the most commonly prescribed generic medications, including such prevalent antibiotics as ampicillin and oral penicillin. Over the next six weeks, the agency will test more than 1,000 samples to make sure they are biologically equivalent to their brand-name counterparts. In addition, the FDA, which had cut back its commercial inspections because of budget restraints, announced that it will hire more field inspectors and seek tougher punishments for unscrupulous manufacturers...
...eradicate the coca crop have been stalled since February because of attacks by guerrillas and traffickers. Some 34 eradication workers have been killed in the Upper Huallaga Valley since 1983. In May a DEA agent, five State Department contract employees and two Peruvian eradication officials died in a plane crash there. Until six months ago, the Peruvian army kept to its barracks in the Upper Huallaga, leaving Sendero insurgents free to terrorize the local populace. Now the army, trying to fight the guerrillas first, is ignoring the traffickers...
...even as investors take comfort in sound fundamentals, they look with alarm at the return of the greedy speculation and electronic sorcery that are blamed for the crash. The market has reacted with near hysteria to the possibility of takeovers, first in the communications industry in response to the Time-Warner deal and now in the airline business in the wake of bids for the companies that own Northwest and United Airlines. The takeover-stock mania has coincided with the return of program trading, a system in which brokerage houses use computers to buy and sell giant blocks of stock...
...good-to-last superstition. "This could be the eighth up year in a row," says Morgan Stanley's Byron Wien. "That's never happened in this century." During this bull cycle, U.S. stocks have produced a compounded 17% annual return, almost twice their historic 9% average. Even during the crash year of 1987, the Dow managed to rise...
...woozy Wall Streeters are asking, Can a crash happen again? Is this boom any different from the last one? Despite such fears, investors have been looking on the economy's bright side...