Word: evening
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Dates: during 1970-1979
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Whether or not the roundhouse threat was genuine, the danger was that OPEC'S big depositors would grow wary about the stability of the world's banking system, perhaps even calling into question the value of money itself. A number of OPEC nations might even decide that it was wiser to keep oil in the ground instead of pumping up so much of it in exchange for mere paper. At the moment that Banisadr was posturing, U.S. Treasury Secretary G. William Miller was jetting to Saudi Arabia, to try to persuade Persian Gulf leaders not to cut their...
...Even if Tehran finally does not default on its debts, the danger is that European and Japanese banks might call in their loans to Iran. The possibility became more acute last week. That was because of an action by an eleven-member international financing syndicate headed by the Chase Manhattan Bank. The syndicate voted to declare a $500 million loan to Iran in default for failure by Tehran to pay some $4 million in interest charges. The Iranian central bank retorted that it had instructed the Chase to transfer the needed funds from an Iranian account in New York...
...federal judge banned Pertschuk from all involvement in the children's television case, concluding that he had become too biased against the cereal companies. Other critics charged that Pertschuk was an intemperate, excessive regulator. In the past few months the chairman has softened his voice, and he even appeared jokingly at a staff party with a black raincoat draped over his head. He answers the accusations against him by saying that they reflect the agency's new effectiveness and that "the rules are beginning to bite...
...luminaries Walter Heller, Joseph Pechman and Arthur Okun, Kennedy is playing down his 17-year Senate record as a liberal Big Spender and emphasizing his economic "pragmatism." Last week Mobil's outspoken public affairs vice president, Herbert Schmertz, joined the Kennedy campaign staff as a top media adviser, even though Schmertz has repeatedly condemned the Senator's attacks on the oil industry. Kennedy supports the budget-paring efforts of Carter, but he fought this year to protect social spending programs from major cuts and co-sponsored legislation for such programs as federal funding for nurses' training...
...profit-grubbing plunderers of the environment, but he is having trouble fitting his "small is beautiful" philosophy to the realities of a $2.4 trillion economy. Brown convincingly argues that the nation's throw-away economy squanders scarce resources; yet he would vastly expand exploration of outer space even though the payoff is doubtful at best. He calls for a ban on new nuclear power plants and would give much more of a subsidy to solar power, though almost every study shows that over the next two decades solar can supply only a small fraction of the nation...