Word: huges
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Dates: during 1980-1989
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...Huge celebrity, accompanied by great wealth, can occasionally befall an odd character, especially when television is involved. But has there ever been a more unlikely national figure than John Madden, the animated elephant who used to coach the Oakland Raiders and now instructs the country in its most bewildering sport? Though he won more than 100 National Football League games in only ten years and directed his team to a Super Bowl victory in 1977, Madden was obscured in Oakland by autocratic Owner Al Davis...
...Then of triumphant postwar American power in the world, the Then of the nation's illusions of innocence and virtue, from the more complicated Now that began when the U.S. saw that it was losing a war it should not have been fighting in the first place, when the huge tribe of the young revolted against the nation's elders and authority, and when the nation finished killing its heroes. The old Then meant an American exceptionalism, the divine dispensation that the nation thought it enjoyed in the world. In 1968 the American exceptionalism perished, but it was reborn...
Just a year earlier, when America blazed with celebrations for the 100th birthday of the Statue of Liberty, Reagan had seemed the most popular President in years. But after a steady flow of congressional hearings on the Iran-contra arms scandal, of war threats in the Persian Gulf, of huge budgetary and trade deficits, of a declining dollar and a crashing stock market, his own stock fell. A CBS/New York Times poll at the end of November reported that 45% of the citizenry approved of the way Reagan was doing his job, down from 52% only six weeks earlier...
Between 10 p.m. and 2 a.m., as Carolyn repacked to go home, Lynch plotted his strategy for the next day. Realizing that he would have to sell a huge bundle of stocks to meet redemptions, he decided to concentrate on unloading issues that were down only 10% or so, rather than take heavy losses on shares that had taken a worse beating. In particular, he chose to sell many of the British stocks in the Magellan portfolio, since the London Exchange had not fared as badly as Wall Street. But even as Lynch was deciding what to sell...
...Boston, the 13th largest U.S. bank, said it plans to write off $200 million of its total $1 billion in Third World loans and set aside $470 million to pay for losses it might sustain on the rest. While other banks, led by New York's Citicorp, announced huge set-asides earlier this year to cover losses on Latin debt, the Boston bank's move was the first time that a major lender had given up on such loans. The radical decision puts pressure on other banks to make similar admissions. That would be costly. If Citicorp were to cover...