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...lawsuit is viewed with icy resentment by brokers, senior underwriters and many syndicate members. Yet the plaintiffs include many highly visible members of the clubby British Establishment, including Lord Napier, the private secretary to Princess Margaret, and Major Sir Francis Legh, equerry to the Queen Mother. Snapped one angry underwriter: "It's like getting into real trouble and saying to your parents, 'Why did you let me do it?' " Added Ian Findlay, the former chairman of Lloyd's: "There is today a feeling of unease among insurers that the principle of good faith is being steadily...

Author: /time Magazine | Title: Business: Lloyd's Losses | 3/3/1980 | See Source »

When the Sasse scandal first set alarm bells ringing, Lloyd's commissioned a review of exchange procedures from an independent "working party" headed by Sir Henry Fisher, president of Wolfson College, Oxford. Lloyd's Chairman Green expects the report, due this spring, will give him the evidence to convince Parliament that a new act is necessary. Says he: "We operate largely under the 1871 act, which creaks and groans like mad. We have to have rules to back our authority. We need discipline in the system...

Author: /time Magazine | Title: Business: Lloyd's Losses | 3/3/1980 | See Source »

...everyone in the hall anticipated excitement if Nixon's least favorite television reporter asked a question. Sure enough, up stood Rather-to an outbreak of applause and jeers from the onlooking broadcasters. When the noise died down, Nixon asked, "Are you running for something?" Rather answered quickly, "No, sir, Mr. President...

Author: /time Magazine | Title: Television: The Houston Hurricane | 2/25/1980 | See Source »

Twice in the past week Washington power figures have quoted Sir Edward Grey, British Foreign Secretary, standing at his window in 1914. "The lamps are going out all over Europe; we shall not see them lit again in our lifetime." But it is different down on the floor of the Senate, Ted Stevens ("How can we defend ... ?") and Robert Byrd ("Let the Soviets guess...") argue. So do others...

Author: /time Magazine | Title: THE PRESIDENCY by HUGH SIDEY: Regarding the Prospect of War | 2/11/1980 | See Source »

Among U.S. allies in Europe, only Britain, which has consistently backed the U.S. in the Afghanistan crisis, expressed immediate support for Carter. With Prime Minister Margaret Thatcher nodding agreement, Deputy Foreign Secretary Sir Ian Gilmour declared in the House of Commons: "We and our American allies will use all possible measures to contain this [Soviet] threat." A West German Chancellery official complained that Carter's "warning about the Gulf states could have been made more subtly. A lower, very steady tone would be better than stridency." Many foreign diplomats in Washington agreed. Said a French diplomat who represents the Common...

Author: /time Magazine | Title: Carter Takes Charge | 2/4/1980 | See Source »

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