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...months, Republicans, led by minority whip Newt Gingrich, gleefully bashed Democrats over the issue. But "Rubbergate" has bounced back at the G.O.P., as Gingrich and three members of the Bush Administration, including Defense Secretary Dick Cheney, have admitted that they incurred overdrafts while serving in Congress. Almost overnight, the White House had to soften its stance on the scandal -- especially since George Bush himself could not say for sure whether he had abused the privilege when he served in the House from 1967 through...

Author: /time Magazine | Title: Congress Checkmate for the Speaker? | 3/30/1992 | See Source »

...Myerson decided he could build another Finley-size business overnight. His pal William Simon introduced him to former baseball commissioner Bowie Kuhn, who accepted a $500,000 annual draw largely for lending his conservative name to the shingle. Myerson & Kuhn soon boasted 170 lawyers, but the firm had to borrow just to pay its high-profile partners, and Myerson's spending habits worsened the crunch. By 1989 the partnership was in Chapter...

Author: /time Magazine | Title: Trials A Lawyer's Precipitous Fall from Grace | 3/16/1992 | See Source »

Every bit as important as Russia's economic crisis is its identity crisis. Now, in the dead of winter, when this country is turning a cold shower on the grimy, corrosive residue of 73 years of communism, it is also being asked to shed virtually overnight its centuries-old identity as the metropole of a multinational empire. That is not easy, especially in the case of Ukraine, which has been dominated by Moscow for more than 300 years. Most Russians haven't accepted the idea of Ukraine as a separate country, not least because 20% of the population there...

Author: /time Magazine | Title: America Abroad: How to Keep Divorce from Leading to War | 3/2/1992 | See Source »

...totally unrealistic for anyone to expect that Eastern Europe could demolish the communist system and build free-market democracies in two -- or even 10 -- years. Yet many people in Eastern Europe thought that by getting rid of the stagnant and oppressive communist system, they could enjoy Western prosperity overnight, and their governments failed to disabuse them of that idea...

Author: /time Magazine | Title: Eastern Europe: The Shock of Reform | 2/17/1992 | See Source »

Amid complaints of rising crime, Zurich officials last week shut down Needle Park for good. Some users clustered around the central train station, others headed off in search of methadone. With sales suddenly back underground, addicts complained that the price of heroin had doubled overnight to $214 a gram. Healthworkers said efforts to prevent AIDS would be much more difficult...

Author: /time Magazine | Title: Switzerland: Closed: Needle Park | 2/17/1992 | See Source »

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