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...runners approached a newspaper office that had been destroyed by bombs the previous night, a dozen policemen braced for trouble. Shots rang out, and soon army reinforcements arrived in armored personnel carriers, firing at the activists and running over bystanders in the process, "People were falling like pins in a bowling alley," said one horrified shopkeeper. By the tune the shooting ended six hours later, the streets were littered with 32 bodies, and the country had slipped one step closer to anarchy...

Author: /time Magazine | Title: EL SALVADOR: One Step Closer to Anarchy | 11/12/1979 | See Source »

...seven years since the fall of I.O.S., which he started in the 1950s and built into the world's largest offshore investment com bine. At its peak in the late 1960s, I.O.S. managed assets totaling more than $2 billion in mutual funds alone; armies of I.O.S. "reps" rang doorbells everywhere to persuade people to put their savings into one or another of I.O.S.'s 130 in vestment outlets. Cornfeld, a onetime social worker, proclaimed that "everyone can be a millionaire." As if to prove it, he lived a sybaritic life in a Geneva man sion built by Napoleon...

Author: /time Magazine | Title: Business: Bernie Cleared | 10/29/1979 | See Source »

Even before the opening bell rang, the traders, specialists, clerks and messengers who work on the floor of the New York Stock Exchange sensed that Wednesday would not be an ordinary day. The Federal Reserve Board's decision to raise the prime rate had already rocked the stock market, triggering a frenzied sell-off that had sent the market plummeting by a startling 26 points on Tuesday-the worst setback it had suffered in nearly six years. Now, at brokers' booths and trading stations, everybody was fretting about what worried investors would do next. "We're going...

Author: /time Magazine | Title: Nation: At the Exchange: Controlled Pandemonium | 10/22/1979 | See Source »

...sultry morning heat, U.S. District Judge John H. Wood Jr., 63, walked out of his San Antonio town house to drive to court. Suddenly a sniper's rifle shot rang out. Struck in the small of the back, he wheeled slowly around and collapsed. His wife Kathryn rushed to his side and found him dying. He was the first federal judge to be murdered since...

Author: /time Magazine | Title: Nation: Assault' | 6/11/1979 | See Source »

...Tehran, and Ayatullah Morteza Motahari, one of Iran's leading Islamic theologians, was leaving a home where he had been conferring with Prime Minister Mehdi Bazargan. Behind the holy man, out of the shadows, stepped two gunmen. Motahari never saw them. A single shot rang out, and he fell mortally wounded with a bullet through the back of his head. His killers fled...

Author: /time Magazine | Title: IRAN: Death of an Ayatullah | 5/14/1979 | See Source »

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