Word: payoff
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...last, apparently, The Payoff for college...
...willing to take over the sick thrift. Paul renamed the S&L and within a few years sent its profits zooming. His method: investing CenTrust's assets heavily in junk bonds, many of which he bought from Michael Milken at Drexel Burnham Lambert. By the late 1980s the payoff from CenTrust's $1.35 billion portfolio of junk made the S&L the region's most profitable thrift. But as the market value of junk bonds collapsed in recent months, CenTrust was doomed to go with...
...bonds and nurtured them into a $200 billion market, was paid $550 million in 1987 for his unrivaled expertise. In a perverse version of the trickle-down theory, lower-echelon bankers raked in multimillion-dollar salaries, and new recruits with two years' experience earned six-figure sums. The fantastic payoff created a brain drain as the best and the brightest from top colleges and business schools across the U.S. flocked to Wall Street. In 1986 nearly half the senior class at Yale applied for jobs at First Boston, a leading Wall Street investment banker...
...personal relationships with other leaders. A number of those he consulted said that whatever the provocation and even justification for attacking Panama, there would be a price to pay abroad. That message meant at least as much to Bush as the gloating of his political advisers over the payoff at home. To his credit, he seemed genuinely embarrassed when the bumptious Republican National Committee chairman Lee Atwater rushed to treat Noriega like Willie Horton, the murderer and rapist whose mug shot figured so prominently in the 1988 campaign -- a bad guy that good Americans love to hate...
...would rather be seen as conservatives. Much of American policy now seems based on the conceit that insofar as Gorbachev is good news, he is both a consequence and a vindication of Western foresight, toughness, consistency and solidarity. According to this claim, the heady events of 1989 are the payoff for the $4.3 trillion ($9.3 trillion adjusted for inflation) that it has cost the U.S. to wage peace since...