Word: garn
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Dates: during 1980-1989
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...have been Washington landmarks since 1979, when President Carter named him Federal Reserve Board chairman and gave him an urgent mandate to fight inflation. Volcker, 55, has carried that out with a zeal that has made him conspicuous in a town that bends easily before political winds. Says Jake Garn, chairman of the Senate Banking Committee: "Sometimes he seems to be the only person in the country capable of sticking to an economic policy." More than a few observers call Volcker the second most powerful man in Washington...
Meanwhile, Congress has been moving very slowly in the task of bringing the antiquated American banking laws into line with economic and financial reality. Senator Jake Garn of Utah, in a bill reported out of committee last week, has proposed some first steps to help ailing savings and loans like Fidelity. If Congress ever gets around to passing Garn's bill, it may find that banks and savings and loans have made it out of date. Interstate banking has already got so far in the financial back door that it is setting up housekeeping in the kitchen...
...endure the public's wrath alone, the House reluctantly followed suit. Massachusetts Congressman Silvio Conte sneered at the Senate: "You got a bunch of fat cats up there raking in the big bucks. They can be big statesmen because they can collect those big honoraria." Utah Senator Jake Garn gibed that House members were "just as gutless" for retreating on their tax deductions...
Everyone, that is, except the people of Utah and Nevada who didn't like the idea of having a subway for nuclear bombs in their backyard. Among those who opposed this basing scheme were Sen. Paul N. Laxalt (R-Nev.), Sen. Jake Garn (R-Utah), and the Mormon Church. With some of its best friends fast turning into foes, the administration last spring started looking at other options. It has apparently returned to the land-based MX, with the following alterations: The number of missiles and silos has been halved, and the system reportedly includes anti-ballistic missiles (ABMs). This...
Lost in the planning turmoil was the original MX design, with its 4,600 shelters scattered across the deserts of Utah and Nevada. Three billion dollars has already been invested in that system, but it is opposed by powerful Republican Senators Jake Garn of Utah and Paul Laxalt of Nevada. There is little question that Reagan wants to avoid crossing his powerful political friends. White House Counsellor Ed Meese is believed to feel that the original MX system was devised to fit Jimmy Carter's failed hopes for a nuclear arms limitation treaty and, thus, the multiple-shelters idea...