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...American bishop then living in Rome, urged Eugenic Pacelli, the Vatican Secretary of State and later Pope Pius XII, to set up a modern stock portfolio to manage the funds better. After Pacelli became Pope, he decided to set up a bank. The IOR, established in 1942, served to shield some Vatican money from war-torn Europe...

Author: /time Magazine | Title: God and Mammon | 7/26/1982 | See Source »

...Explains Economist Mancur Olson of the University of Maryland: "In stable, democratic societies, special-interest groups accumulate over time, and they push to raise prices, wages or government spending. They can only serve their member by trying to win a larger slice of the social pie." In aiming to shield themselves from inflation, such groups perpetuate...

Author: /time Magazine | Title: What in the World Is Wrong? | 7/19/1982 | See Source »

...industrial nations without a comprehensive national health program, upwards of 85% of all Americans are covered by medical insurance of some sort, either through the federal Medicare and Medicaid plans, which provide coverage for the elderly and the poor, through nonprofit organizations like Blue Cross/Blue Shield, or through company-sponsored plans for employees...

Author: /time Magazine | Title: Those Sky-High Health Costs | 7/12/1982 | See Source »

...most promising cost-containment ideas now under way is New York State's six-year-old "prospective reimbursement" program. In it, state officials examine the prior year's operating budget for any hospital that participates in the state-administered Medicaid programs and Blue Cross/Blue Shield. The examiners then add a special cost-of-living index, and decide how much the hospital will be reimbursed in the coming twelve months. Result: annual hospital costs in the state have risen between 8% and 10% since 1976, while the U.S. figures have jumped...

Author: /time Magazine | Title: Those Sky-High Health Costs | 7/12/1982 | See Source »

...four dissenters objected that the ruling put the President "above the law." Wrote Justice Byron White: "It is a reversion to the old notion that the King can do no wrong." He chided the majority for abandoning the approach used in other immunity cases: that the shield attaches to functions rather than to offices. Though district attorneys, for example, have absolute immunity while prosecuting a case, they do not have it when directing an investigation. White also argued that an impenetrable shield denies an aggrieved citizen his right to an adequate remedy...

Author: /time Magazine | Title: Law: Shielding the President | 7/5/1982 | See Source »

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