Word: dollarization
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Dates: during 1980-1989
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...partners discovered they were eligible for loans from the Small Business Administration to minority-owned companies. By the early 1980s Welbilt had become the beneficiary of an SBA program allowing minority firms to obtain federal contracts without competitive bidding. The once two-bit machine shop began winning million-dollar military contracts for Army smoke- grenade launchers and Navy pontoon bridges. Within a few years 95% of its business came from these "set-aside" contracts...
When Wedtech set its sights on a multimillion-dollar Army contract for 6- h.p. engines in 1981, for instance, San Francisco Attorney E. Robert Wallach was hired as a Wedtech consultant. Wallach, an old friend and lawyer of then Presidential Counsellor Edwin Meese's, was allegedly given some $500,000 worth of company stock over several years in addition to a retainer for his services. For several months Wallach sent detailed memos to Meese concerning Wedtech's efforts to win the engine contract...
Smaller than a silver dollar and azure as a summer sky, the elusive Palos Verdes blue butterfly was not even discovered until 1977. Three years later the rare subspecies, found only on the Palos Verdes peninsula south of Los Angeles, was placed on the Federal Government's list of endangered species. Then in 1983 the city of Rancho Palos Verdes opened a new playing field in a park where locoweed had provided a habitat for the extraordinary insect. That was the last anyone saw of the blue butterfly...
...strange," Silber wrote, "that this Administration, which has campaigned on the issue of bringing fiscal realism to Government, does not see that spending on education is not consumption but investment. A dollar well spent on education is a dollar spent in developing our country's most important capital asset: intelligence...
...many Senators think they can solve the twin problems of the deficit and declining American competitiveness painlessly, by shaving money from education. They are wrong. In the long run, every dollar that goes to education serves to boost productivity and thereby lays the foundation for America's future economic health. Keeping access to higher education open to all is not only a matter of equity; it is also a matter of economic efficiency...