Word: maneuverers
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While the huge fine sapped Drexel's strength, the killing stroke was the severe slump in the $200 billion junk-bond market. Several factors -- a rising default rate, a slowing economy and a new federal law requiring S&Ls to dispose of their junk bonds -- conspired to send the prices...
James Baker's visit to Moscow this week is a throwback to those bygone days when strategic nuclear-arms control was the main event in U.S.-Soviet relations. Unfortunately, the Secretary of State has less room to maneuver than he needs to make the most of the mission.
The timing of the announcement was odd, considering that Mikhail Gorbachev is in the midst of numerous crises, including growing separatism in Lithuania and untamed ethnic violence in Azerbaijan. But cloak-and-dagger experts in the West believe Moscow may have publicized the spy's downfall to warn foreign espionage...
But few Chinese were taken in by their government's maneuver. "Maybe ending martial law is good for international relations," said a history major at Peking University, "but there will always be soldiers and plainclothes police around." Despite Premier Li Peng's claim that "a great victory has been won...
Though Cheney's initiatives will add much needed support and equipment to the badly overextended interdiction efforts, the Pentagon's initial misgivings about its drug involvement were well founded. Troops trained to locate and destroy hostile forces are less effective at the more delicate task of tracking and arresting smugglers...