Word: dealing
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Dates: during 1980-1989
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Four years after the market crash of 1929, Congress passed the Glass-Steagall Act, barring banks from dealing in stocks and other securities. At the time economists believed losses from stock trading helped cause the widespread bank failures of the early 1930s. So it is surprising that Wisconsin Democrat William Proxmire, chairman of the Senate Banking Committee, is pushing to let banks deal in securities again despite the Oct. 19 market collapse and its stirring of memories...
...poured out his contempt for Ronald Reagan in dozens of not-so-private gatherings around town. Wright has called the President a "liar" and worse. White House aides, no strangers to bile, whispered again last week, "Jim Wright is a mean-spirited snake-oil salesman, and nobody wants to deal with him." On the Nicaraguan flap, Wright and Secretary of State George Shultz grandly staged their own truce negotiations, but that hardly dispels what one Congressman calls a "reservoir of bitterness" against the Speaker. Some of that is normal in the election season, but it seemed to go beyond...
...Soviet Union for two years, with the approval of British authorities. The high-temperature furnaces had the potential of producing an extremely light and durable fiber, carbon-carbon, used to improve the accuracy of intercontinental ballistic missiles. When the U.S. learned of the case, officials rushed to halt the deal. Though most of the order had already been filled, U.S. authorities prevailed on the British government to stop shipment of the vital heating elements that the Soviets would need to operate at least some of the equipment properly. When informed of the fiasco, the Thatcher government ordered the heating elements...
NATION: The "domestic summit" ends with a fizzle -- and a half- baked budget deal...
...shaky agreement, one that purports to reduce the deficit by $30 billion next year and $46 billion more the year after. But as the President and congressional leaders announced the plan, a strange air of anticlimax pervaded the White House briefing room. "This agreement is probably not the best deal that could be made," said Reagan, "but it is a good, solid beginning." House Speaker Jim Wright struck a conciliatory note: "Everybody gives some, nobody gets everything he wants." Later New Mexico's Pete Domenici, a seasoned veteran of the Reagan era's most bruising budget battles, fairly sighed with...