Word: leveller
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Dates: during 1980-1989
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...administration source said Ginsburg discussed staying off the cable case with Charles F. Rule, then his deputy in the anti-trust division, but that, "the question didn't go beyond that discussion." Justice regulations provide that where disqualification questions arise at Ginsburg's level they should be referred to the deputy attorney general for a written ruling...
Ronald Reagan's first Secretary of Education Terrel H. Bell resigned in 1984, weary of fighting with White House aides over his budget. In The Thirteenth Man: A Reagan Cabinet Memoir, to be published next year by the Free Press, Bell blasts unidentified "mid-level right-wing staffers at the White House" for a more disturbing characteristic: a proclivity for "sick humor and racist cliches." Examples: references to the late Martin Luther King Jr. as "Martin Lucifer Coon" and comments during discussions about the Middle East that Arabs were "sand niggers...
...variation of program trading called portfolio insurance. This is a defensive strategy designed to protect stock portfolios against market downturns. Rather than sell stocks as their prices are falling, portfolio insurers sell stock- index futures. If the decline persists, the futures can be repurchased at a lower level, yielding a substantial profit that will offset some of the loss sustained on the stocks. But traders who buy the futures hedge their positions by making computer-aided sales of the underlying stocks, driving the market down further. If computers did help accelerate the Black Monday slide, they were not responsible...
...alarming surge of the budget deficits through the $200 billion mark seems finally to be forcing some budget progress. The Administration agreed in 1985 to a freeze in the defense buildup, and that has held increases in military outlays below the level of inflation. During the same year, Congress passed the Gramm-Rudman deficit-reduction bill, designed to impose automatic spending reductions if the Administration and legislators failed to meet targets for cutbacks. But the Supreme Court found a crucial part of the law unconstitutional. By the time a revised version was passed in September, Congress had reduced the size...
...taller than Mount Everest, long thought to be the world's highest peak. This month, however, an eight-man Italian expedition, led by Geologist Ardito Desio, 90, refuted that claim. Using satellite signals and surveying techniques, they found that Everest towers 29,108 ft. above sea level -- 80 ft. taller than previously believed and 840 ft. higher than...