Word: patman
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
Pinch & Punch. What did the signs add up to? Answers ranged from a breather (Dwight Eisenhower) to a serious recession (Texas' easy-money Democratic Congressman Wright Patman). Various economists and businessmen called it recession, rolling readjustment, healthy adjustment, mild cyclical adjustment, slowdown, shakedown downturn, downtrend, sidewise movement, plateau, leveling off, period of hesitation, soft period, temporary cyclical swing in long-term growth, polka-dot prosperity with the spots getting bigger...
First to apply for the job of ferreting out fiscal failings was Texas Democrat Wright Patman, who proposed a House Banking and Currency subcommittee (headed by Patman) to look into the fiscal picture. He received Speaker Sam Rayburn's blessing, but little more. The House, which knows Patman as an easy-money man who blames most of the world's troubles on big bankers, handily voted down an enabling resolution. Another candidate, Senate Banking and Currency Chairman J. William Fulbright, was equally unpromising. Two years ago Fulbright and his committee undertook an investigation of the stock market, accomplished...
Furthermore a Congressional committee would probably be headed by Representative Patman of Texas, whose animosity toward the Federal Reserve Board might well turn the investigation into an attack on that agency. The committee would be all too likely to operate as a partisan inquisition, its Democrats seizing the chance to discredit the Administration. While Congress should question "the credit squeeze," which seems to have hurt small business and housing while failing to halt inflation, knowledge of the whole problem must precede a workable alternative...
...House Banking and Currency Committee, with full covering fire from Speaker Sam Rayburn, rejected the President's plea for permission to appoint nine U.S. financial leaders to lead the study, instead decided to do the job itself. The chairman of the investigating committee would undoubtedly be Democrat Wright Patman. Said Speaker Rayburn: "If there is going to be an investigation, Congress ought...
With that, the House served notice that the Federal Reserve Board and its tight-money policy will probably find rough going in the 85th Congress, since Texan Patman is one of Capitol Hill's most outspoken critics of FRB's credit-pinching policies. In the Senate, the Administration can look for little help. A resolution by Indiana's Republican Senator Homer Capehart, authorizing a non-partisan presidential commission, is sleeping quietly in the Senate Banking and Currency Committee, has little chance of being reported out before the end of February, if then...