Word: fulbrighter
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Television, more and more, was getting into other people's business. NBC's American Inventory gave an upbeat plug to the stock market in a playlet about the joys of being a small investor, while on Youth Wants to Know. Arkansas' Senator William Fulbright (see BUSINESS) deplored the market's excesses. Indiana's Senator Homer Capehart got in the act by appearing on Walter Winchell's ABC telecast for the express purpose of asking Winchell some friendly questions about his broadcast stock tips. Unfortunately, the Senator began by answering questions instead of asking them...
...years had Wall Street gone through such a hectic week. On Monday, as Wall Streeters gloomed over the Fulbright investigation, stocks had their biggest drop since the start of the Korean war. Industrials fell 9.72 points, to 391.36, back to where they were in early December. Next day Wall Street took cheer from Treasury Secretary Humphrey's testimony (see below), and stocks bounded up. They ended with a gain of 7.92 points, the largest single-day's advance since Sept. 5, 1939. In the next two days they crept up farther, ended up the week with...
Senator J. William Fulbright's investigation of the stock market, which had some suspiciously political overtones from the start, last week turned into an out-and-out dogfight between Democrats and Republicans. G.O.P. Chairman Leonard Hall charged that Committee Member Paul Douglas of Illinois was "one of the original instigators of the gloom-and-doom attack" during the last congressional campaign, and that one of the star witnesses, Harvard's Professor John K. Galbraith, was an "oldtime New Dealing, A.D.A.-type of anti-Jeffersonian radical [who] flirted around with the customary pink fronts," and "almost wrecked" World...
There was no doubt that the hearings were generating so much more heat than light that Chairman Fulbright himself admitted that the whole affair appeared to be "futile." Then he helpfully translated just what he meant by "futile": "We are in a box. If any good comes out of these hearings, the credit redounds to the President rather than...
...Capehart said yesterday that he could not speculate on the likelihood of asking Galbraith to reappear. "I have done all I can do. The executive session will have to be called by Sen. Fulbright, an dthe decision on Galbraith will rest with the committee," he said...