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...sobs that shook Michael Milken in Manhattan federal court last week punctuated the most dizzying fall from power in modern Wall Street history. They came as federal Judge Kimba Wood sentenced the financial wizard, whose junk bonds fueled the epic 1980s takeover wars, to 10 years in prison. Said the tearful felon: "What I did violated not just the law but all of my principles and values, and I will regret it for the rest of my life. I am truly sorry...

Author: /time Magazine | Title: A Stiff Term for the Wizard | 12/3/1990 | See Source »

...predecessor, who had assured her she would prevail handily in the first round.) At 8:45 she notified the Queen of her decision by telephone. Then, 15 minutes later, she entered the Cabinet room and informed the rest of her colleagues. In light of the back-room battles that shook the Conservative Party and the hypocritical talk about loyalty and harmony, Thatcher's written statement was a model of clarity: "Having consulted widely among colleagues, I have concluded that the unity of the party and the prospect of victory in a general election would be better served if I stood...

Author: /time Magazine | Title: Britain: Thatcher's Time to Go | 12/3/1990 | See Source »

...credited with background vocals on Girl -- to make the new Milli Vanilli album, due out in January, and Rob and Fab were having none of it. After all, as far as the public was concerned, they were Milli Vanilli: they were the ones who went on tour and shook their booties; they were the ones who accepted the Grammy last year for Best New Artist. They demanded to sing for themselves. When the producer remained adamant, they fired him, he issued the now notorious announcement, and the National Academy of Recording Arts and Sciences withdrew the Grammy...

Author: /time Magazine | Title: Music: Fans, You Know It's True | 12/3/1990 | See Source »

...made good while staying on the Minneapolis scene -- in fact, he is the scene. But his new movie and album suggest he needs to shake himself loose the way he once shook up music...

Author: /time Magazine | Title: Time Magazine Contents Page: Nov. 19, 1990 | 11/19/1990 | See Source »

...quake," says Arch Johnston of the Center for Earthquake Research and Information at Memphis State University. Fortunately, when the earthquakes of 1811 and 1812 occurred, the New Madrid region was too sparsely populated to suffer significant damage or injuries. A modern-day replay, however, would make the quake that shook San Francisco last year seem tame. That tremor measured 7.1 on the Richter scale. In contrast, the big quakes that rumbled forth from New Madrid may have exceeded 8.0, or about 10 times that strong...

Author: /time Magazine | Title: Science: Wake Up, East And Midwest | 10/8/1990 | See Source »

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