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...college and the arcane discipline of economics. Eight years later, while studying for his Ph.D. at Columbia University, Greenspan abandoned academia to become a partner in a new consulting firm. In 1974, having never held a government position, the economist waltzed into Washington as chairman of President Gerald Ford's Council of Economic Advisers -- just in time for the worst recession in postwar history...

Author: /time Magazine | Title: A Conservative Who Can Compromise | 6/15/1987 | See Source »

Greenspan, who was President Gerald Ford's chief economic adviser from 1974 to 1977, is the first member of the TIME board to be named Federal Reserve , Board chairman. He will be remembered for his dry wit -- and one curious habit. Because of a sometimes bad back, he was occasionally prompted to stand while addressing fellow members, then to stretch out flat on his back on the meeting-room floor while others spoke. Most important, of course, Greenspan was esteemed for his sound economic judgment. "The views he shared with us were reflected in the stories we wrote about...

Author: /time Magazine | Title: A Letter From the Publisher: Jun. 15, 1987 | 6/15/1987 | See Source »

...discuss details of the PTL controversy. Nor, he says, is Wife Tammy Faye available. "This whole time she's been shopping," he says, noting that she visits at least two flea markets a week. Until recently, both Jim and Tammy Bakker went five days a week to the Betty Ford Center in Rancho Mirage, Calif., where they were both outpatients. "I went because of Tammy," he says, explaining that his wife was addicted to a prescription tranquilizer as well as an over-the-counter allergy medicine...

Author: /time Magazine | Title: Religion: At Home with Jim | 6/8/1987 | See Source »

Ness is even more radically redefined. Mamet says he sees him as a lone town tamer of Western legend. De Palma has evoked the name of John Ford to suggest the classic qualities he was aiming for. And Costner has something of the grave beauty Gary Cooper used to bring to these roles...

Author: /time Magazine | Title: Cinema: In The American Grain THE UNTOUCHABLES | 6/8/1987 | See Source »

Like an avalanche of Styrofoam and saccharin, the Great Human Interest Saga of Andrew Wyeth and Helga Testorf, the German nymph of Chadds Ford, Pa., came roaring down the narrow defiles of silly-season journalism and obliterated the meager factual content of the story. Here, one learned, was a treasure, a secret cache of hundreds of paintings and drawings of a mystery blond done between 1971 and 1985 by America's dynastic culture hero, unbeknown to his wife, never exhibited, possibly the record of a love affair, bought en bloc for millions by a neophyte collector...

Author: /time Magazine | Title: Art: Too Much of a Medium-Good Thing | 6/1/1987 | See Source »

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