Word: lous
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Dates: during 1960-1969
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...daily luncheons of the "Pappas boys," Tom and his brother John, in the dining room of their food warehouse. The brothers became important back-roomers in city and state affairs. John worked the Democratic side and was rewarded with an associate district judgeship; Tom earned some personal lOUs as a fund raiser for the G.O.P., got on the party's national finance committee and was a frequent guest at President Eisenhower's White House stag dinners. There he befriended then Vice President Richard Nixon. He also became influential in the Greek Orthodox Church...
...near-bankruptcy. At one point in 1968, the Democrats were in such penurious straits that Humphrey's backers could not afford a single hour of nationwide TV. The party's debts have since swelled to more than $8 million, including more than $2 million in remaining campaign lOUs incurred by the late Robert Kennedy, Eugene McCarthy and McGovern...
What Humphrey has, as does Richard Nixon among the Republicans, is the affection and indebtedness of hundreds of influential party officials around the country?Congressmen, mayors, Governors, state committeemen?for whom he has campaigned, raised funds and opened many doors in Washington. He must now translate these lOUs into meaningful support...
Artificial Reserves. The new money goes by the awful label of S.D.R. (for "special drawing rights"). It will consist of wholly artificial reserves, set up as a separate fund on IMF's books and backed by lOUs in the currencies of participating countries. Nations will automatically be credited with S.D.R. in proportion to their regular IMF deposits, but only 30% of S.D.R. actually used need ever be repaid. The other 70% becomes a permanent increase in each country's liquid assets-"paper gold" that moneymen feel should some day become as coveted as the metal...
...other section at the convention (356 v. 355 for the East, 352 for the Midwest, 262 for the West, eight for Puerto Rico and the Virgin Islands). Nixon could well enter the convention with 450 of the 667 votes needed for nomination. In addition, he has scores of lOUs from the 1966 campaign, when he traveled 30,000 miles (more than when he ran for President) in 35 states, often shaving three times a day to erase that famous five-o'clock shadow...