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...atmosphere at Washington headquarters has long been one of scholarly leisure. Governors, whose sumptuous offices are fitted with marble fireplaces, work comfortable 8:45-to-5:15 hours and have plenty of time for reading and contemplation. Members of the Federal Reserve's superb staff, which produced the Government's first computerized model of the economy in 1968, can take a few months to study some obscure financial problem. According to persistent legend, Reserve employees also indulge in a good deal of partying and high living. Fed people say the stories are exaggerated, though the board long...

Author: /time Magazine | Title: Business: Supreme Court of Money | 7/17/1978 | See Source »

...said, in readiness to command the American expeditionary force in Asia when the war broke out. This was a year before Pearl Harbor, but he insisted war was coming. Beware of the Japanese Navy, he said, and continuing, he said that Japanese carrier-based aviation was superb. He believed, however, that the Japanese Army was not even second class, that it was shot through with venality. He, himself, was building the new Philippine Army. He was altogether impressive...

Author: /time Magazine | Title: Special Section: In Search of History | 7/3/1978 | See Source »

...Richard Schickel's unflattering appraisal of Joe Brooks' If Ever I See You Again [June 5], I found the movie to be tender, touching and entertaining. I feel that Mr. Brooks is a "multitalented," not "multiambitious," creator who has proved himself with this film. His scoring is superb, his songs are chart busters, his directing is solid, and his acting is completely natural, relaxed and refreshingly "non-Hollywoodish...

Author: /time Magazine | Title: Letters, Jun. 26, 1978 | 6/26/1978 | See Source »

Fame improves some people. Except for certain saints and others with inner resources, there is nothing ennobling about obscurity. Watergate transformed Carl Bernstein from a cigarette-scrounging city-room fixture and superannuated punk into a superb journalist who carries his fame with a self-assured but quizzical grace. Rosalynn Carter has flourished in the public gaze...

Author: /time Magazine | Title: Time Essay: The Perils of Celebrity | 6/19/1978 | See Source »

TECHNICALLY, The Last Waltz is by and large superb. Scorsese is one of the most talented directors to come along in several years, and here he tried his hand at something entirely new. The concert footage is never boring; Scorsese carefully selects his shots and sequences so that the same pattern is rarely repeated. We are spared the usual audience shots and moronic neo-groovy short interviews with way-out folks in the stands. Scorsese's emphasis decidedly falls on the music, to the benefit of the final product...

Author: By Andrew Multer, | Title: The Medicine Show Packs Up | 6/6/1978 | See Source »

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