Word: fiascoes
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Dates: during 1990-1999
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Lacking any answers to these problems, Bush has reacted to his domestic unpopularity with a characteristic move: an assault on Congress. The president likes to blame the Democratically controlled legislative body for everything from the recession and quotas to the savings and loans fiasco. Last Thursday, Bush viciously condemned Congress, calling it "a privileged class of rulers who stand above...
...tendency to dismiss black women's complaints as either exaggerations or outright fantasies has grown stronger since the Tawana Brawley fiasco. In that case, a 15-year-old black girl claimed that she had been abducted and raped by a mysterious gang of white men. It turned out that she had cooked up the story. Some feminists believe the doubts about black women's veracity stirred up by Brawley's lies may have led to acquittals in several rape cases in which the victim was a black woman...
Toward the end of his history, Harry inserts a diary he kept during the weeks leading up to the Bay of Pigs fiasco in April 1961. Some 60 pages of documentation follow, recording in minute detail, sometimes hour by hour, the preparations for this doomed venture. The trouble is, all this information has been in the public record for several decades. The only new twist that Harlot's Ghost brings to this old story is Harry's anxiety that his CIA colleagues will learn he is keeping an unauthorized record of the proceedings. And this road leads to unintentional comedy...
...scathing critique of U.S. agricultural policy should be required reading for every presidential candidate. O'Rourke may be the first writer to explain the savings and loan fiasco in a manner that keeps you from falling asleep after the first mention of subordinated debt. He also reveals, in terms a mathematical dunce can fathom, the Social Security system's purpose: it's the best way for voting everyone rich...
Meanwhile, bankers laden with bad credit have remained reluctant to make new loans. That has helped perpetuate a credit crunch that began last year when bank regulators tightened loan standards to avoid a repeat of the savings and loan fiasco. Even the Fed's lowering of interest rates in recent months has scarcely encouraged bank lending to pick up. Asserts Hugh Johnson, chief economist for First Albany, a securities firm: "More than at any time in the past, banks are dragging their feet...