Word: l
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Dates: during 1970-1979
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...several large insurance companies, have been sellers of stock, and even Citibank has been using the rally to sell and diversify rather than to buy. Still, there has been a bandwagon effect as the majority of institutional investors have rushed in for fear of missing the upturn. Says Paul L. Smith, chief financial officer of California's Security Pacific National Bank: "These fellows are all scared of being left at the starting gate. The minute somebody starts to buy, the others don't want to get left...
...prepared the agenda for that 1968 conference was loaded with progressive and radical thinkers, among them a Peruvian priest, Gustavo Gutiérrez, who later wrote the influential A Theology of Liberation. But since 1972 the secretary-general of CELAM has been Bogotá's Auxiliary Bishop Alfonso López Trujillo, a staunch young conservative. With the Vatican's encouragement, López Trujillo cleaned out the secretariat, installing priests and laymen with considerably less enthusiasm for revolutionary political change...
...López Trujillo and his allies in the hierarchy have the support of the Vatican, including Pope Paul, who fears repression of the church from Latin America's current regimes if Catholics too militantly press the case for a new social and economic order. In El Salvador, for example, two priests were killed and others were threatened with assassination by government-allied right-wing terrorists for espousing redistribution of property. According to Latin American experts in the Vatican, the Pontiff welcomed the zeal for social change that followed Medellin, but now feels that the emphasis has become...
DIED. Jacques Léon Rueff, 81, free-market economist who helped Charles de Gaulle put France on the road to financial reform after 50 years of inflation and deterioration of the franc; in Paris. A firm advocate of the gold standard as an economic foundation for all Western countries, Rueff in 1958 carried out a drastic reduction in borrowing, the removal of nearly all quota restrictions for international trade and most significantly, the creation of a new franc (worth 100 old francs), which helped restore France's balance of trade and built up its gold reserves...
...Complete Book of Running, Fixx(l...