Word: feds
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Dates: during 1980-1989
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Heading the list of prospective successors to Clausen is Paul Volcker, 58, chairman of the Federal Reserve Board. One enticement: the World Bank presidency pays $175,000 a year, vs. the $75,100 that Volcker now earns. The Fed chairman, whose term does not end until August 1987, refuses to comment on the speculation, and aides deny that he has any interest in running the bank...
...Volcker might be tempted to move on if he sees his control of the Federal Reserve increasingly challenged. Last week the Reagan Administration announced the nomination to the Fed board of two conservatives who might diminish his policy clout. As expected, the President chose Manuel Johnson, 36, an Assistant Treasury Secretary and supply-side advocate, and Wayne Angell, 55, a Kansas banker, economist and farmer, to fill vacancies on the seven-member board. Their selection, coupled with two earlier Reagan appointments, will produce a majority of the board less likely to toe the Volcker line on monetary policy...
...that alcohol takes away from the quality of Harvard social life. Maybe alcohol adds to the quantity of Harvard social life. Perhaps Crimson prohibition is a change for the better. However, what Harvard social life evolves into is not the point. The point is that Harvard fed the problem of underage drinking by not restricting it previously. Now Harvard changes its mind not because of a belief in the law but because of the threat of a lawsuit. The Harvard administration knew about underage drinking for a long time and chose to ignore and even contribute to the problem. Because...
...spreading realization that there is no easy way simply to bury the toxic-waste problem has fed the ever present NIMBY (not in my backyard) syndrome. "Something's got to give," protests Christopher Daggett, EPA administrator for New York and New Jersey. "Either we aren't going to have cleanups, or someone's going to bite the bullet and start accepting wastes. But Lord knows, no one wants to be first." Daggett and his boss, EPA Director Thomas, contend that there is no ready technology that can promptly solve the disposal problem. "We can't wait around until we have...
...National Debt -- $1,823,105,258,488.19, Wednesday, Oct. 2, 1985, 11 a.m. When Marsha was born in 1956 the Debt had been only one-seventh as big. Did the burden crush her, I blurted? Not really, she said. She whisked it across the hall to be fed into more computers, which ultimately spewed it out to cringing auditors and suffocating finance ministers around the globe. Then what? Well, said Marsha, in a little while she would take the bus to her home in Hyattsville, Md., and if need be, she would help her ten-year-old son with...