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...reaction to the last-minute payouts was swift and brutal, especially among Drexel creditors. One large unsecured creditor, First City Bancorp. of Texas, quickly filed a motion in federal bankruptcy court in New York City asking for an investigation. The New York Times lambasted the bonuses as a case of greed worthy of the Guinness Book of World Records and called on Drexel executives to return the dough. In Washington committees in both the House and the Senate are planning hearings this week that will explore the issue. "It may be that the payments themselves rendered Drexel insolvent," says attorney...

Author: /time Magazine | Title: The Last-Minute Money Grab | 3/5/1990 | See Source »

...with firearms, like assault and robbery, have stabilized or are actually declining. We see proof that levels of firearm ownership cannot be associated with levels of criminal violence, except for their deterrent value. On the other hand, tough laws designed to incarcerate violent offenders offer something gun control cannot: swift, sure justice meted out with no accompanying erosion of individual liberty...

Author: /time Magazine | Title: The N.R.A.'s Case for Firearms | 1/29/1990 | See Source »

There is little hope that either country will settle its political differences soon enough to allow a swift rescue of the people in peril. Ethiopia has recently claimed victories against the Tigre rebels, which may soften Mengistu just enough to permit some relief operations, at least for a time. But in Sudan, stiff rebel resistance threatens only to convince Bashir that his best course is to continue to block the already difficult lines of transport into the south -- and let starvation and disease do the rest...

Author: /time Magazine | Title: Africa Death by Starvation | 1/22/1990 | See Source »

Prime Minister Roman defended the swift execution, claiming that Ceausescu loyalists were about to attack the military base where the dictator was being held in an attempt to free him. "We were in a situation that did not allow us to wait," Roman said. "Perhaps it was a mistake. But it is too early to judge." At least as real as an impending rescue attempt was the Salvation Front's fear that Ceausescu as a prisoner would give the Securitate a reason for fighting on. Some members of the Front may have thought it a good idea to offer...

Author: /time Magazine | Title: Rumania Unfinished Revolution | 1/8/1990 | See Source »

...Communist Party. Under attack not only from citizens but from rank-and-file members as well, the party seems to be desperately reshuffling its players in hopes of appeasing the public. Adamec must strike a careful balance between party hard-liners and the Civic Forum's relentless pressure for swift action. Last week several Communist legislators apologized for failing to respond sooner to the popular mood. Even ousted party leader Milos Jakes supported the abolition of the party's constitutional right to lead the country...

Author: /time Magazine | Title: East-West: What Have You Done for Us Lately? | 12/11/1989 | See Source »

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