Word: magics
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Dates: during 1960-1969
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...friends Baker talked to were mostly members of a tight little Capitol clique, comprised largely of Senate-committee staffers, known as the "F80 Club" (after Bobby's Senate office number). With clubby generosity, Baker eventually shared his good fortune by getting some Magic shares for them. Karl got what he wanted too, in the form of a tax-relief decision from the Internal Revenue Service...
...Texas Way. Baker kept right on buying Magic stock-with borrowed money. One who helped him was Robert F. Thompson, executive vice president of Tecon Corp., a Dallas construction firm headed by Wheeler Dealer Clint Murchison Jr. Tecon performs nearly $90 million worth of work a year for the Army Corps of Engineers. Thompson testified that he first met Baker in 1957. Where? "I thought," replied Thompson, "that it was in the office of Lyndon Johnson...
...said Thompson, Baker told him about Magic. Thompson proposed a deal, and borrowed $110,000 from the First National Bank in Dallas to buy the company's stock. Bobby, said Thompson, did not cosign the loan, but he was to share equally in the profits or losses. Again the stock rose, and Baker cleared $21,000-without ever having invested a cent of his own money. Incredulous, the Senators wanted to know why Bobby had not been obliged to sign the note. "I just borrowed the money and had a gentleman's agreement with Bobby," said Thompson. "That...
Actually there is no black magic to the classic French diplomacy so artfully practiced by De Gaulle and his Foreign Minister. Some acid critics sniff that it is simply a matter of submerging broken promises in a torrent of new ones. In fact, it is founded on the time-tested belief that "the ironclad rule of states is to give nothing for nothing." The French have never confused diplomacy with a popularity contest, and this is a point the U.S. has been achingly slow to learn. While the U.S. is busy building up "reservoirs of good will" around the world...
Disappointing Magic. As permanent parts of the city landscapes, some of the older slums are getting paved streets, electricity, running water. TV antennas are beginning to sprout above tin roofs; once in a while a relatively imposing dwelling thrusts above the squalid huts. But no major Latin American city has been able to cope with the ever-growing demands for housing. At least 400,000 new low-cost urban housing units are needed in Venezuela, 400,000 in Chile, 500,000 in Argentina...