Word: lynch
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Dates: during 1980-1989
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...summer of 1981, California State Judge Eugene Lynch asked San Francisco Attorney E. Robert Wallach to talk to his good friend Edwin Meese, then White House Counsellor, about helping the judge get an appointment to the federal bench. Wallach says it was "likely" that he did so. At a hearing on Sept. 17 of that year, Lynch orally approved a payment of $1 million to Wallach's law firm as its part of a $1.74 million out-of-court settlement won by the firm for two girls who had been badly burned in a tent fire. The following January Lynch...
...from? Certainly not from the snotty, exclusive, all male finals clubs whose members waltz around in tuxedos and perform male-bonding exercises in the wood-panelled back rooms of their prissy Cambridge houses, talking about Mr. Smidgetpoop '51, alumnus of this particular club, who's now president of Merrill, Lynch...
Sobered by the crash, Lynch is wary about what will happen to the market. He does not foresee a recession yet, but is fearful of the plunging dollar. "If the dollar declines from here," he says, "it will probably accelerate our inflation and persuade the Europeans and Japanese to stay out of the U.S. stock market." Lynch also frets that the market is at the mercy of sophisticated, new computerized trading techniques that sometimes run out of control. Says he: "Program trading, portfolio insurance, stock options and index trading accelerated the crash. Without them, instead of an 508-point decline...
...Lynch does not waste much time agonizing about what could happen next week. He has been too busy snapping up stocks that he considered well worth buying at their depressed postcrash prices: Goodyear, Chrysler, Intel, Texas Instruments, Carnival Cruise Lines and Toys "R" Us, along with companies that most people have not yet heard of, such as Metro Mobile CTS, a cellular phone system, and Comcast, a cable-TV operator...
...Lynch remains convinced that America is returning to competitive shape. To abandon the stock market now would be to lose faith in those bustling factories, offices and stores he inspects every week. He believed in the long- term value of U.S. companies before the crash. He still does...