Word: powerfulness
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Dates: during 1990-1999
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What holds them together is a passion for thinking and an inextinguishable curiosity about a new economic order that is unfolding before them like an Alice in Wonderland world. The sheer fascination of inventing a 21st century financial system motivates them more than the usual Washington drugs of power and money. In the past six years the three men have merged into a kind of brotherhood, with an easy rapport...
...private, Greenspan is full of insights like this. He is as much an observer of people as of markets. Rubin, among others, says the joy of working with Greenspan lies in both the power of his intellect and the sweetness of his soul. Though the world has come to know him through his opaque congressional testimony, friends know him as the Juilliard-trained saxophone player who spent two years touring with a swing band before taking up economics. The quiet romance of the man has always been present if you looked hard enough. Ayn Rand told friends, "What I like...
...aide to Secretary of State Madeleine Albright regularly worked the phones during last summer's Russian collapse, insisting that reporters were missing the story--Albright's involvement in economic policy. No one spent an ounce of ink on it. But other Administration officials say they are comfortable with the power balance. Says Gene Sperling, head of the National Economic Council: "You are often in a situation where other people far less experienced are coming in with very simple solutions, sure things that are going to work. And here are Rubin and Greenspan and Summers, with all their knowledge and expertise...
JOSHUA COOPER RAMO, editor of TIME's World section, takes you inside the most powerful economic triangle in Washington in this week's cover story on the Committee to Save the World, a.k.a. Fed Chairman Alan Greenspan, Treasury Secretary Robert Rubin and Deputy Treasury Secretary Larry Summers. As volatility has upset foreign markets and economic models, the three men have forged a unique partnership to prevent the turmoil from engulfing the globe. "They are motivated by the prospect of confronting entirely unprecedented economic challenges," says Ramo. Reporting this tale proved a challenge too. Ramo followed Summers to Russia this summer...
...first-ever original programs--the drama Any Day Now and the comedies Maggie and Oh Baby--focus on women who renounce yuppie partnering fantasies for loftier pursuits. In fact, just like Providence, Any Day Now has as one of its protagonists a fortyish Washington refugee who gives up on power brokering and a noncommittal boyfriend to settle in her native town of Birmingham, Ala., and practice civil rights...