Word: felix
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...tight money supply, though, is only part of the puzzle. Some experts, including Felix Rohatyn, a partner in the Lazard Frères investment banking firm, argue that loan demand is still putting intense pressure on interest rates. While the high cost of money has discouraged mortgage seekers and auto buyers, corporations are still queuing up to borrow. The volume of commercial and industrial loans at large banks has risen at an annual rate of 22% in the past month...
Coleman went on to top his class at Harvard Law School, and in 1948 became the Supreme Court's first black clerk, under Felix Frankfurter. A few years later he helped write the winning brief in Brown vs. Board of Education, which outlawed separate-but-equal schools. But he believes the battle is far from won. In a recent article, he wrote: "For black Americans, racial equality is a tradition without a past. Perhaps one day America will be colorblind. It takes an extraordinary ignorance of actual life in America today to believe that day has come...
...enlightened right--the right of Wall Street and the Business School--already has its plan. As expounded by Felix Rohatyn, a New York investment banker, and the others of Business Week, remdus- trialization" would relay not only supply-side whimsy, but explicit federal allocation of capital. A renovated Reconstruction Finance Corporation would direct huge subsidies to promising growth industries and bail out a few more important declining industries. In both cases, however, reindustrialization funds depend on workers agreeing to wage restraint. And according to Business Week, "destabilizing" goals such as affirmative action and environmental repair must be deferred...
Lekachman, in the weakest passage of his argument, suggests that such a program is possible only under "friendly fascism"--an authoritarian national security state smilingly led by Reagan. Maybe, But it's worth remembering that Felix Rohatyn was most popular in the Carter White House Reagan's ideology has no place for most government-based reindustrialization plans...
...DIED. Felix Morley, 88, Pulitzer-prize-winning editorial writer (1936) at the Washington Post, author of seven books on economics and politics, and brother of Author Christopher Morley; in Baltimore...