Word: term
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Dates: during 1970-1979
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...court faces a growing work load. ''There are just more hard and more deserving cases than there used to be,'' says White. To day the court hands down more than half again as many written opinions as it did 25 years ago, and at term's end, the Justices often find ''themselves rushing to finish their drafts. Says Powell: "The pressure of time prevents us from going from chamber to chamber to work things out. The lack of opportunity for collegiality diminishes as the case load increases...
...readily supplies investment funds for multinational corporations and provides the mechanism whereby the OPEC countries ''recycle'' their new riches to poor developing nations. OPEC'S leaders, ever fearful of placing too much money in any one country, prefer to keep their petrodollars in short-term Eurocurrency deposits free from the long arm of any government...
People transfer money into funds primarily by selling off stocks and withdrawing deposits from banks and savings and loan associations. This shift away from shares could further damage capital formation; companies ideally tend to raise long-term investment money in the stock and bond markets but go to the money market for short-term borrowings to cover operating expenses. The move out of savings is badly hurting the thrift institutions. They face a tremendous competitive disadvantage and a sharp outflow of funds because the Federal Reserve's Regulation Q prohibits them from paying more than 5½% on passbook...
...banks and cor porations would have to go broke before the typical money market investor would suffer much loss. He would not even lose, but his yields would go down, if interest rates declined. If they dropped far enough, he might have been wiser to invest in a long-term bank note. For example, a nine-year certificate of deposit now pays about 9%; that, of course, is less than most money market funds, but it is guaranteed for the longer term...
During the long shutdown, the 400 or so Times journalists reported to the office twice a week, covered their beats as best they could and worked on long-term stories. Some two dozen Timesmen busied themselves writing books, others freelanced for magazines, but none completely escaped the ennui that afflicts a newspaperman suddenly without a newspaper. "I feel like a frog in the winter," Times Foreign Editor Charles Douglas-Home said at one point. "All horizons have contracted. Things continue to function, but at a tiny percent of efficiency...