Word: feds
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Dates: during 1980-1989
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Someone liable to be just as irked at Citicorp's move is Fed Chairman Volcker. Some stories have it that he called Reed personally to complain about the write-off. Why? If banks rush to follow Citicorp's lead, the industry might be so weakened by losses that the Fed would eventually feel obliged to help out by putting downward pressure on interest rates. But that would run counter to the Fed's efforts to buoy up the weak U.S. dollar. Says Timothy Scala, money-market manager for Buffalo-based Manufacturers and Traders Trust: "This demonstrates just how grave...
Larry Bird stole an inbounds pass and fed Dennis Johnson for the winning lay-up with one second left, giving the Boston Celtics a 108-107 victory over the Detroit Pistons last night and a 3-2 lead in their NBA Eastern Conference final...
Safir, intrigued by Scorecard (named for its creator's favorite pastime, keeping baseball statistics), rented an office in San Francisco's Federal Building and assigned Wutrich to teach two dozen other investigators to use the system. Working at 15 terminals tied to an Altos 3068 computer, they fed in data about each fugitive from interviews, rap sheets and computerized files from the FBI, DEA and other government agencies. They learned to query for patterns and to dispatch tips to the field task forces. Investigators who had spent their careers exchanging information via slow, spotty teletypes became born-again high-tech...
...year proselytizing for Notre Dame, he has said Mass at the South Pole and at the Faculty House of the University of Moscow. (The difference between God and Hesburgh, goes an old campus joke, is that God is everywhere and Hesburgh everywhere but Notre Dame.) With this spiritual nourishment fed into a healthy ego, he retains a natural sense of command. "The very essence of leadership is you have to have a vision," he says. "It's got to be a vision you articulate clearly and forcefully on every occasion. You can't blow an uncertain trumpet." During student unrest...
This week a significant chink may open in the Glass-Steagall wall. The Fed is expected to rule on the application of three major New York banks -- Citicorp, Bankers Trust and J.P. Morgan -- to begin securities underwriting. Their application depends on an interpretation of Glass-Steagall that would allow a modest amount of such activity within a bank holding company. The five Fed governors are believed to favor their bank petition. But those worthies were warned last February by Robert Downey, a partner in prestigious Goldman, Sachs, that such a decision could "change the financial world forever...