Word: lynch
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...number of commodity investors has ballooned from 50,000 to half a million in the past five years. Michael Weinberg, chairman of the Chicago Mercantile Exchange, predicts that there will be 3,000,000 by the end of the decade. Major brokerage houses are opening new commodity departments; Merrill Lynch recently started a commodity newswire. In late 1970 there were no mutual funds dealing in commodities; now there are 43. Last week Rufenacht, Bromagen & Hertz, a brokerage house, bought a membership on the Chicago Mercantile Exchange for $125,000, or $30,000 more than the price of the last seat...
...pyramiding. Obviously, pyramids built on such a thin cash base have a high risk of collapse, and the speculator is liable not just for his cash investment but the full price of his contract; if the price drops 20% he will lose not $5,000 but $20,000. Merrill Lynch generally requires customers to have $15,000 in income and net assets of at least $50,000 before it will accept commodity orders from them. Until recently, many brokers required women to get the written consent of their husbands before trading in commodities, on the dubious theory that they were...
...clear that the Fianna Fáil, which has ruled Ireland for 35 of the past 41 years, had been narrowly defeated by a new coalition of the conservative Fine Gael (United Ireland) and the socialist Labor Party. "There is no use playing politics," an exhausted Jack Lynch told the country on television at 2 a.m. "I don't think we are going to form a government...
What went wrong? Lynch, Prime Minister for the past six years, had been certain of victory last month when he suddenly called for a "clear and decisive mandate" to strengthen his hand in dealing with the spreading violence in Northern Ireland (TIME, March 5). The violence itself was hardly an issue at all. To some extent, the voters were obviously influenced by the opposition's critical stand on a wide range of domestic problems: taxes, housing, pensions, living costs...
...partners are in full accord on how to deal with the I.R.A., and they have no quarrel with Jack Lynch's decision last fall to jail a handful of I.R.A. extremists. "I've been very strong on the internal security question for years, long before Fianna Fáil was," Cosgrave told TIME Correspondent Jordan Bonfante last week. The coalition's record on the I.R.A., adds O'Brien, is "more thoroughly consistent" than the former government's-meaning that the new regime will be just as tough as Lynch was and maybe tougher...