Word: reasonableness
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Dates: during 1980-1989
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...into a costly new interest-rate war. Houston's Commonwealth Savings cranked up the rates it pays on six-month "jumbo" certificates of deposit (typical size: $100,000) from 9.6% to a hefty 10.75%. In California, Pasadena's BancPlus Savings followed suit with a 10.5% six-month rate. One reason for the feverish run-up was the need for the thrifts to compensate depositors for the perceived risk of putting money in those S & Ls, despite the Government's promise to insure all accounts...
...group of writers led by playwright Harold Pinter presented a petition in Rushdie's behalf at No. 10 Downing Street. Author Anthony Burgess, writing in the newspaper the Independent, stated the Western position precisely: "What a secular society thinks of the Prophet Muhammad is its own affair, and reason, apart from law, does not permit aggressive interference of the kind that has brought shame and death to Islamabad," where the rioting took several lives. "If Muslims want to attack the Christian or humanistic vision of Islam contained in our literature," Burgess observed, "they will find more vicious travesties than...
...first drumbeat. But photography has a birthdate of sorts, 1839, the year it was ushered loudly into the world in a clamor of patents and the claims of two separate inventors, Louis Jacques Mande Daguerre in France and William Henry Fox Talbot in England. For that reason 1989 is being marked as a sesquicentennial -- 150 years in which photographers have remade the world in their own images...
...part because of Darman's gift for dispassionate analysis. Says Richardson: "Dick never allowed his thinking to be colored by how he wished the situation to come out." The tome is now shelved. Darman wants it forgotten. He rebuffed publishers who sought a memoir of his time with Reagan. Reason: a really candid book might limit future opportunities for high office...
...rate of home ownership in the 25-29 age group to drop from 44% to 36%. For those in their 30s, the rate fell from 61% to 53%. The increase in home prices has far outpaced the ability of young people to save the necessary down payment. A prime reason is the price of rents, which have risen even faster than home prices in many cities. Now interest rates are rising as a barrier once again. The average 30-year mortgage rate climbed to 10.56% last week, vs. 9.84% a year ago, as the Federal Reserve tightened up credit...