Word: feds
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Dates: during 1960-1969
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...they mutilated their victims because of the native belief that mutilation prevents a body from going to heaven; men's penises were chopped off and nailed to trees, women were impaled on sticks. One coffee plantation owner was forced to watch while his dead wife and children were fed into a buzz...
...widely heralded, 36-million-mile Venus spaceship, Mariner I. last week climbed dead on course from Cape Canaveral with $4,000,000 worth of sensing equipment crammed into it. Then, after 3½ min. because of what was officially described as "a human error" in the information fed into a computer, Mariner wandered irresolutely off course, and a button presser on the Cape gave it the order to blow itself...
Money & Desire. There were some who thought that in cutting the margins Federal Reserve Board Chairman William McChesney Martin had yielded to pressure from the Kennedy Administration and was trying to push stock prices back up. Actually, the Fed was only acting as it had in the past. The Fed was given the power to control margins in 1934 in order to prevent a repetition of 1929, when the crash was intensified by the vast number of speculators operating largely on credit. So when stock prices soar and speculators' borrowing increases, the Reserve Board raises margins as a damper...
Presumably, both the Fed and the Administration are very aware that a margin cut does not by itself produce any sustained market advance. ''People don't lack the money to buy stocks; they lack the desire," says Heinz Biel of Wall Street's Emanuel, Deetjen & Co. Many Wall Streeters, in fact, believe that most of last week's rally was just a continuation of one that started a week earlier, and they look for it to peter out somewhere between 600 and 635 on the Dow-Jones average. The margin cut has done nothing...
...recognition to Red China, it discreetly shuts its eyes to whatever deals are worked out by Australia's quasi-official commodity boards. In Melbourne last week, delegates to a farmers' and ranchers' convention resoundingly voted down a resolution condemning trade with Peking. Cried one delegate: "A fed Red is less dangerous to the free world than a starved...