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When the U.S. Congress voted to impose economic sanctions on South Africa last October, overriding President Reagan's veto in the process, legislators in effect wrote two lists. One enumerated U.S. policy goals for South Africa, including the freeing of political prisoners, repeal of key laws enforcing racial apartheid, and entering into negotiation with legitimate representatives of the country's black majority. The other spelled out areas of trade and finance that would no longer be permitted until those goals were attained, including new U.S. investments in South Africa and the importation of that country's agricultural products, coal, iron...

Author: /time Magazine | Title: South Africa Ignoring Both Carrot and Stick | 10/5/1987 | See Source »

...Badham's measure has been trumped by a rider from Republican Congressman Herbert ("Sonny") Callahan of Alabama, who proposed that the Pentagon reimburse Dravo for losses incurred between last October and such time as the repeal is signed into law. Callahan too has reason to be sympathetic: Dravo is a major employer in his district around Mobile. The Dravo PAC has also provided him with $4,000 in recent years...

Author: /time Magazine | Title: A Case of Rank vs. Privilege | 9/14/1987 | See Source »

...under this year. One reason for the shake-out is that the high cost of attracting deposits has forced banks to seek higher-paying, and thus riskier, loan ventures. What bankers think they need to survive amid the financial-services hurly-burly is even more deregulation, namely the repeal of the Glass-Steagall Act, the Depression-era law that forbids them to underwrite securities. Opposing that proposal are Wall Street's investment bankers, who would prefer to keep the business to themselves; they claim that commercial bankers would get in over their heads if they were allowed such privileges...

Author: /time Magazine | Title: Rolling Back Regulation | 7/6/1987 | See Source »

...codify the fairness doctrine into statute law. But the bill was vetoed by President Reagan, who called the doctrine "antagonistic to the freedom of expression guaranteed by the First Amendment." Efforts to override the veto were abandoned last week, and the deregulation-minded FCC may soon be free to repeal the rule...

Author: /time Magazine | Title: VIDEO Crying Foul over Fairness | 7/6/1987 | See Source »

...some of its power to define policies but has impeded his efforts to execute them. The result: chronic deadlock. A Government thus divided against itself, he writes, cannot stand up to such challenges as trillion-dollar debt and explosive foreign entanglements. His proposed remedies go beyond familiar ideas like repeal of the Constitution's prohibition against members of Congress serving in the Cabinet to far-out notions like the establishment of a council of "100 notable persons" chosen by the President to serve for life and review legislation...

Author: /time Magazine | Title: BOOKS: Bicentennial Samplings | 7/6/1987 | See Source »

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