Word: relentlessness
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Dates: during 1980-1989
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After the bailout of Mexico, the next major challenge for Volcker came in the summer of 1984, when Continental Illinois, once the seventh largest bank in the U.S., suffered a relentless run on its deposits after word got out about its immense pile of bad loans. To stave off a crisis, Volcker helped assemble a package of $4.5 billion in fresh commercial-bank loans for Continental. "This is a very historic thing," remarked a New York City banker. "This is the first time the Fed has been party to any kind of statement that 'nobody is going to lose.' " While...
Democratic Senator Joe Biden, on CNN's Larry King Live, wondered if relentless interrogation along personal lines would "make politics like a circus." Emphasized Biden, whose strong family life has been a political asset for years: "I don't have anything to worry about in the sense that there is a culpable act in my background or that I have a promiscuous life- style...
Such are the scenes of morning in the scandal-scarred spring of 1987. Lamentation is in the air, and clay feet litter the ground. A relentless procession of forlorn faces assaults the nation's moral equanimity, characters linked in the public mind not by any connection between their diverse dubious deeds but by the fact that each in his or her own way has somehow seemed to betray the public trust: Oliver North, Robert McFarlane, Michael Deaver, Ivan Boesky, Gary Hart, Clayton Lonetree, Jim and Tammy Bakker, maybe Edwin Meese, perhaps even the President. Their transgressions -- some grievous and some...
DIED. James Jesus Angleton, 69, relentless, enigmatic director of counterintelligence at the Central Intelligence Agency from 1954 to 1974; of lung cancer; in Washington. Angleton was an early member of the Office of Strategic Services, the World War II precursor to the CIA. His trust-nobody style while working in what he called espionage's "wilderness of mirrors," and his pursuit of Soviet agents in the U.S. and moles within the CIA, won him respect from insiders but little public notice. He has been credited with helping to expose Kim Philby, the British journalist who worked for the Soviet Union...
...running for President has a weekend off. He spends part of it entertaining a part-time actress from Miami. A newspaper stakes out his home, reports his interlude, and overnight his private life turns into a public obsession. In the relentless glare of the cameras, he testily denies that he had a sexual affair with the woman and bristles over questions about adultery. His popularity slides. Stories surface of another liaison. The candidate, the clear front runner for the Democratic nomination, describes himself as a hunted quarry and withdraws from the field, denouncing the political process...