Word: stopgaps
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Dates: during 1980-1989
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...Savers program was authorized by Congress in the summer of 1981 as a 15-month stopgap measure to help banks and S and Ls attract funds. By last week, as the certificates started to mature, the biggest question in the industry was: Where would investors stash their money next? Courted by bankers who are anxious to roll over the All Savers deposits into other bank investments, and cajoled by brokers and other financial advisers who are eager to snatch the funds away, some 4 million All Savers depositors across the U.S. were bombarded through the week by telephone calls, mailgrams...
...frantic attempt to find stopgap solutions, the government of Mexico's outgoing President threw a one-two punch that has now transformed this confusion into surreal chaos. It issued a vague edict forbidding Americans to take home certain foods from Mexican markets, and it imposed ill-conceived currency restrictions designed to stem the tide of money flowing out of the country. The result: border towns on both sides are suffering even more...
...stopgap is better than none, and by no means precludes (and in fact provides for) further steps aimed at reductions. Moreover, the U.S. and the Soviet Union have generally abided by SALT II's provisions anyway, although the Soviets would have been required to scrap some weapons last December if the treaty had been adopted. Since Reagan's start will not finish until after "many years of concentrated effort" at best, the appeal of a treaty to which Moscow has already agreed is not negligible; such items do not grow on trees. In trashing the SALT process, Reagan is also...
Last week a committee representing the Governors of states that tap the Ogallala published a list of 20 recommendations for action. Most of the suggestions, based on a $6 million federal study of the problem, involved stopgap efforts rather than cures. Except one. The committee wants further study of a proposal by the Army Corps of Engineers for huge canal systems that would import water from South Dakota, Missouri and Arkansas. The routes - all of which would be uphill - range in length from 376 miles to 1,135 miles. The cost- from $3.6 billion to $22.6 billion - currently places...
...Federal Reserve chairman, Paul Volcker, is a man to be much admired [March 8], for he is one of the few in Government willing to bear the responsibility for long-term economic recovery. Volcker realizes that stopgap increases in the money supply offer no solution. It took the U.S. 40 years to reach this dire economic situation. We cannot expect instant and painless recovery...