Word: specters
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Dates: during 1970-1979
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...federal bailout. But the bankers' resistance softened after speeches on the city's crisis from, among others, Mayor Beame, Carey, Rohatyn and Brenton Harries, president of Standard & Poor's Corp., the investment-research firm. Harries warned that civil disorder might follow a default and added: "As unpalatable as the specter of federal intervention is, the social and economic consequences of default of the proportions we are facing clearly make it the lesser of two evils...
...Dreaded Specter. Fortunately, the pending docket, in the view of one Justice, "is the least interesting of any before the court in many years." The most important new case is the constitutional challenge to the 1972 federal campaign spending reform law, which its critics claim restricts the right of free political activity. There is special congressional language in that law directing an early Supreme Court determination. So the Justices may feel they have to resolve it, even if Douglas' is the swing vote. Of course, should five or more Justices other than Douglas agree, that and any other case...
...specter most disturbing to many is that Douglas will not only remain disabled but also refuse to retire until after the 1976 presidential election in hopes that Gerald Ford will not be elected. The court's longest-sitting Justice-36 years-could have both a personal and philosophical motivation for putting off retirement. He was once the target of an impeachment effort led by Ford, and with four Nixon appointees already on the court, the liberal Douglas may believe a Ford nominee would solidify a conservative majority for years to come...
...rapidity with which the second attack on Ford followed the first raised the specter of a contagious spread of the assassin's disease. These attempts were particularly irrational, since they were aimed at one of the nation's least provocative and most amiable Presidents. Indeed, beyond the usual run of crank letters and threatening calls against any President, more serious attempts did seem to be proliferating...
...December, though, the money crunch begins anew: the city will have to come up with more than $3 billion over six months to meet a variety of obligations, including past debt coming due. Unless the Administration begins to recognize the urgency of the matter, the specter of default will then loom larger than ever...