Word: morgans
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Dates: during 1980-1989
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...write his acceptance speech. Shortly before Franklin D. Roosevelt took office, the two men lunched at Warm Springs, Ga., where Lippmann said: "The situation is critical, Franklin. You may have no alternative but to assume dictatorial powers." As the Depression worsened, Lippmann had lunch on Wall Street with a Morgan partner who urged him to advocate abandoning the gold standard. So Lippmann wrote the column, and a floundering stock market shot up. That very night Roosevelt told his advisers he was going off gold...
...Morgan is a convicted kidnaper with little hope of leaving the maximum security prison at Stillwater, Minn., until the mid-'90s. During the early years of his sentence, he whiled away the days shuffling papers in an office and worrying about the financial plight of his disabled wife. Nowadays Morgan (not his real name) serves his time much more productively. Thanks to a 40-hour-a-week job as a computer programmer with a company set up inside prison walls, he has been able to buy a $50,000 house for his wife, and he sends home enough money...
...Morgan is one of thousands of prisoners across the country who are engaged in useful and sometimes even profitable work. The range of jobs is wide, from assembling solar energy panels and setting type to milking cows and, in Colorado, building a new $6 million prison near Canon City. Convicts in Thomaston, Me., cannot keep up with demand for their sturdy hardwood furniture. A production line at Minnesota's Lino Lakes penitentiary repairs Toro Trimmer-Weeders, outperforming the company's own employees. Not all these employed prisoners are male; select inmates at the Colorado Women's Correctional...
...prison work is as lucrative as Dan Morgan's in Stillwater. Colorado pays its inmates up to $3.04 an hour, but a few states like Texas pay nothing, and the national average is a modest 20? to 30? an hour. Whatever their outlay, the states aim for a good return. It costs about $10,000 to house the average prisoner for a year, and with inmate population expanding and taxpayers' tolerance shrinking, legislators are loath to spend any more than they absolutely must to keep their penal systems going. Thus it is a boon when a state...
Despite Brazil's perilous economic state, few international bankers expect that its funds will be cut off. Most banks are awash in deposits and looking for places to make safe investments. Says Vivian Morgan-Mendez, an economist at Sào Paulo's Banco de Boston: "What other country looks better as a long-run proposition?" The answer, of course, is that many do. But Brazil has achieved that most enviable role of a debtor: it is so far in hock to so many banks that its creditors cannot allow it to go broke...