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Concentrated Power. Since 1963, Patman has run his banking committee like a fief. He often gets away with oversimplifications and half-truths because so few Americans, in or out of Congress, fathom the intricacies of finance. Many bankers contend that Patman thoroughly misunderstands how the U.S. banking system operates. They argue that some of his proposed reforms would yoke the Federal Reserve to policies of permanent inflation by depriving the board of its ability to take unpopular actions. Still, Economists John Kenneth Galbraith, Seymour Harris and several others support Patman's idea of placing the Reserve Board under presidential...

Author: /time Magazine | Title: Money: Big Days for The Scourge of the Banks | 1/26/1970 | See Source »

...Germans were at least astute enough to fathom one thing about the center of Catholicism: it abounds in rumor and thrives on hearsay. "In place of this river of unreliable information, we need authentic news which is really important," read a 1943 report to the foreign ministry in Berlin from Ernst von Weizsacker, who as Ambassador to the Holy See also directed a German spy network. One person assigned to ferret out the authentic news for the Germans was an apostate priest named Georg Elling. who came to Rome ostensibly to study the life of St. Francis of Assisi. What...

Author: /time Magazine | Title: The Vatican: Spies in Surplices | 1/19/1970 | See Source »

...young man who had never dated a girl, he found a job polishing and arranging fruit in a Seattle supermarket and took some satisfaction in it. But his failure in school, tugging remorselessly at his conscience, drove him to the Seattle public library. For hours on end, unable to fathom the printed mysteries of its stacks, he pored over the illustrations. In a way that he still does not understand, pictures of airplanes and weapons of war fascinated him. And his thoughts slowly turned to the other culture of modern society where men gather in the strong solidarity of uniforms...

Author: /time Magazine | Title: Behavior: Anatomy of a Skyjacker | 12/5/1969 | See Source »

...Most modern painters," Pollock once said, "work from within. The unconscious is a very important side of modern art." No other artist has ever utilized the unconscious as brilliantly as he. Full Fathom Five is not the largest or most significant Pollock at the current exhibition, but it has a special fascination, for it contains in embryo the later paintings of Robert Rauschenberg and Jasper Johns. Its panorama of steely swirls is underlaid with nails, cigarettes, tacks, buttons and other detritus-yet all made lovely, as it were, by lying drowned at the bottom of a sea of paint, vividly...

Author: /time Magazine | Title: Painting: The New Ancestors | 6/27/1969 | See Source »

...Full fathom five thy father lies...

Author: /time Magazine | Title: Painting: The New Ancestors | 6/27/1969 | See Source »

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