Word: go-go
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Banks, like many other sectors of the economy, are having troubles adjusting to slowing inflation. During the go-go years, bank officers often sought to stay competitive by rushing into trendy new investment schemes. They made too many loans to businesses that would remain viable only as long as the economy kept growing strongly. Says Franklin R. Edwards, a professor of banking at Columbia University: "The problem that many banks currently experience is not a function of irresponsibility or imprudence, but of operating in a more competitive environment. Deregulation of the industry and the expansion of financial services...
...fall. They could have done a great service to rock and roll by recording only those tunes as a pure tribute to their own roots. As it is, the two best cuts on the return--Eddie Cochran's "Twenty-Flight Rock" and Smokey Robinson's "Goin to a Go-Go"--are both new additions to the Stones vast library of cover versions...
...gives the seller of the house a share of the profit that is presumably made when the home is eventually sold by the new buyer. Many sellers, however, do not like the idea of leaving their money tied up in someone else's home, especially now that the go-go years of real estate prices appear to be over...
...Because, unlike in previous wars, we were fighting to hold ("pacify") territory, not seize it, the determining factor in our success or failure was the level of opposition in the south; Wallace called troop infiltration to the south "the most critical factor in the war." The Vietnam era--the go-go '60s, when the computer embodied all that was sleek and modern about America--had an obsession with numbers, and Robert S. McNamara installed his B-School brand of systems analysis in the Pentagon. There, he and his elite corps tried to guide the war by the cold...
...recession under Dwight Eisenhower, encompassed John F. Kennedy's famous expansionary tax cut in 1964, and ended just as the Lyndon Johnson boom years of Viet Nam were beginning to fire up domestic inflation. In 1957, 13,739 firms went bust. In 1967, near the zenith of the go-go years, 12,364 companies went under. The highest number of failures registered during the entire period, 17,075, came in 1961, the springboard year of the boom. By comparison, business failures in 1981 now seem set to rise no higher than...