Word: felix
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...doctrine of the separation of I powers," wrote Supreme Court Justice Louis D. Brandeis in Myers vs. United States, "was adopted ... not to promote efficiency, but to preclude the exercise of arbitrary power. The purpose was ... to save the people from autocracy." His ardent disciple Felix Frankfurter, "half brother-half son," as Brandeis characterized him, agreed in his personal diary: "When a priest enters a monastery, he must leave ... all sorts of worldly desires behind him. And this court has no excuse for being unless it's a monastery...
Advocates of default insist that Poland's creditors have an unparalleled opportunity to pressure the Soviet Union by squeezing its troubled satellite. Says Felix Rohatyn, a partner in the investment-banking firm of Lazard Frěres: "For the first time in 25 years, the Western governments have a truly credible weapon in their armory, and that's control of the capital markets. The Russians can get technology elsewhere, and lots of people will provide them with grain. But nobody else can make the capital available." A default declaration might force the financially pressed Soviet Union to increase...
...American businesses, and to allow floundering ones, like the automobile industry, to pool information and share research and development costs. Not exactly trust busting but it will, they say, enhance American industry's ability to complete with Japan and Germany. Even more controversial is another Thurow suggestion, seconded by Felix Rohatyn, that the Federal government create a sort of central economic planning agency. This would allow the government to invest in concerns that have great potential, but because of their risky nature might have trouble attracting private funding--companies, for example, formed to investigate and produce alternate energy sources...
...presidential race. These two youthful and appealing gentlemen, joined by junior senators such as New Jersey's Bill Bradley, representatives like Colorado's Timothy Wirth and Missouri's Richard Gephardt, and heavy weights from academe and high finance--MIT economist Lester Thurow and New York investment banker Felix Rohatyn for example--are beginning to exert a strong influence on the thinking of the Democratic party...
...question of how people will be served." Most critics of the swap see a great danger that once federal funding of AFDC and food stamps ends, many states will deliberately keep such benefits low in the expectation that the poor will move to states where benefits are higher. Contends Felix Rohatyn, a New York financial expert who has advised states and cities on their money problems: "All poverty programs should be funded by the Federal Government; otherwise, states are going to compete by driving poor people into other states." To Princeton University's Richard P. Nathan, a professor...