Word: fiascoes
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Dates: during 1980-1989
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...foolhardy. In the wake of his withdrawal, few were talking publicly about the long-range implications of the embarrassment. A lame-duck President who has been buffeted by scandal, a stock-market crash and the bruising defeat of his first court nominee could ill afford this latest fiasco...
...Iran-contra fiasco and Bork's defeat in the Senate have given the President strong incentive to play up the significance of the forthcoming agreement. Add the stock market instability, and the President's last claim to fame is in jeopardy. So Reagan has abandoned his avowed realism in order to distort the agreement's utility...
Physician Richard Weiss listens to radio reports of the developing fiasco as he drives to work. Weiss pulls off the freeway and phones his broker with an % order to sell his entire portfolio. The broker ticks off plummeting quotes. "There's Disney going 78, 70, 68. We're making history here." Says Weiss: "We're doing it with my money." He loses...
Congressional investigators looking into the Gritz fiasco were furious that they had not been told about ISA's existence. The Pentagon conducted its own investigation, which apparently convinced Secretary Weinberger that ISA was already spinning out of control. In early 1982, only a year after ISA's formation, Weinberger ordered the unit disbanded...
...effort to put the Iran-Contra fiasco behind him, President Reagan has placed a treaty with Gorbachev on intermediate-range nuclear missiles at the top of his agenda. By concluding such an agreement, Reagan believes he can salvage a powerful legacy in foreign affairs; he can be the first President in history to achieve an actual nuclear arms reduction treaty with the Soviets...