Word: levered
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...risks, according to U.S. Federal Reserve Chairman Paul Volcker, are "without precedent in the postwar world." Says British Financier Lord Lever: "The banking system of the Western world is now dangerously overexposed. If lending abruptly contracts, there will be an avalanche of large-scale defaults that will inflict damage on world trade and on the political and economic stability of both borrowing and lending countries." The financial community, says Rimmer de Vries, chief international economist of New York's Morgan Guaranty Trust Co., is "in a historic period. There is a lot of worry that things could...
...infinitely more powerful economy and a more stable political process. Others, echoing that view, note that banks can hardly send gunboats to seize Poland's steel plants, Mexico's oilfields or Indonesia's rice mills if debt repayments are halted. Says Britain's Lever: "I call [Wriston] the Peter Pan of bankers because he still believes in fairies...
...problem logically, step by step. "Getting a computer to do something," says Papert, "requires the underlying process to be described, on some level, with enough precision to be carried out by the machine." Charles P. Lecht, president of the New York consulting firm Lecht Scientific, argues that "what the lever was to the body, the computer system is to the mind." Says he: "Computers help teach kids to think. Beyond that, they motivate people to think...
...Western Europe but including Brazil and South Africa, had been winning American customers by unfairly selling government-subsidized steel on the U.S. market. The ruling could have effectively blocked many of the offending companies from the U.S. altogether. In October the Administration, using the controversial ruling as a lever, won concessions from the foreign governments of the producers involved. In the agreement, the overseas governments promised that they would limit their sales in the U.S. to less than 6% of the total market, a cutback of 1¼ percentage points from then current levels...
Yale's A Bartlett Giamatti, by contrast, has never been a a joke. He's a pure and simple fan--an inveterate Red Sox (and Yale, of course) booster Upon announcement of his appointment in 1977, he joked All lever wanted to be president of was the American League...