Word: feds
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Dates: during 1980-1989
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Indeed, Greenspan, 61, will need to be one. The summer's respite can last only so long before the Fed nominee will have to deal with a flare-up among the many long-term economic woes the U.S. faces. America's giant twin deficits, in trade and the federal budget, are improving slowly but remain daunting. Their persistence could help send the dollar plunging again and pressure the Fed to bolster the currency with higher interest rates. Inflation has returned as a potential threat, while the Third World debt dilemma refuses to go away. America's aging economic expansion...
...confirmation hearing July 21, a questioner asked the conservative nominee whether he might succumb to "muscle" from the White House to stimulate the economy with an easy-money policy as the 1988 elections drew near. Greenspan responded that he "obviously would reject" any such pressure and declared the Fed's political independence to be "terribly critical." He has little choice, moneymen say. "His life will be very difficult if he is perceived as someone who will play politics. He has got to impress ((central bankers)) abroad, and the way to do that is by being a tough guy," says John...
Officials of animal-protection societies tell of pit bulls being given live kittens or small dogs, such as poodles, to tear apart. Often they are fed gunpowder or hot sauce in the mistaken belief that this will increase the animals' pain threshold. Jean Sullivan, director of the Memphis-based Humane Society, charges that some owners have tried to increase their dogs' natural aggressiveness by keeping them tied up with collars of baling wire or running them on treadmills until they are exhausted. The pit bull's jaws -- which can exert as much force...
...laughter and say, "I want to hear more about it. Go ahead." North claimed that even as three aides from the Attorney General's office pored over his Iran files on the day they found the lone diversion memo, he had walked right past them with other papers and fed them into his office shredder, which they could hear grinding away. Didn't anyone, asked Liman, say, "Stop . . . What are you doing?" Replied North with a grin: "They were working on their projects. I was working on mine." (The Justice Department later denied North's account...
Even friends who admired North sometimes found his ambition hard to take. Rob Pfeiffer, who taught with North at Quantico, recalls basketball games in which North constantly fed the ball to the commanding officer. "Ollie passed to him because he was in to make rank," recalls Pfeiffer. "He was going to be a general, and being in Quantico wasn't quite close enough to Washington...