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...European financiers contemplated seizing Polish bank accounts, ships or airliners if the Warsaw government fails to make a $500 million interest payment by the end of the year. If just one of the banks started to grab Polish assets, it could set off a dash for cash that would threaten the stability of international banking by calling down an avalanche of lawsuits, tightening credit around the world, and perhaps causing some financial failures. On the other side, the Polish foreign trade bank stalled for time, hoping to force the banks, which have already lent the Poles more than $14 billion...

Author: /time Magazine | Title: Financial Brinkmanship | 1/4/1982 | See Source »

That irony is not entirely consoling to the West. For one thing, even when Communists are fighting among themselves, their conflicts threaten to spread. The ongoing civil war in Cambodia, between the China-backed forces of Pol Pot and the Vietnamese puppet regime of President Heng Samrin could spill over into Thailand. A new outbreak of war between Viet Nam and China could embroil all of Southeast Asia...

Author: /time Magazine | Title: Communism: The Specter and the Struggle | 1/4/1982 | See Source »

...state of martial law and announced that henceforth the country would be ruled by a "military council for national salvation." Speaking in a tired voice, he said, "Our country is at the verge of an abyss. The state structure has ceased operating." Solidarity's leaders, he charged, "threaten us with the use of force. They no longer obey the law. Everyone is on strike. They call for confrontation with the Reds. We had to do something before they thrust us into civil war . . . We have to come out of the crisis by ourselves by our hands. History would never...

Author: /time Magazine | Title: Poland: Crackdown on Solidarity | 12/21/1981 | See Source »

Specifically, the CFA threatened to go against NCAA rules by signing a television contract for its member schools with the National Broadcasting Company, which has not televised college football since 1964. The NCAA recently signed a $263.5-million agreement with the Columbia Broadcasting System and the American Broadcasting Company giving these two networks sole permission to televise college football until 1985. Oklahoma and Texas, the leading spokesmen for the CFA, have filed a lawsuit against the NCAA, maintaining that the televising of a school's games was a right belonging solely to the individual school. The CFA schools asked last...

Author: By Bruce Schoenfeld, | Title: More On the NCAA | 12/16/1981 | See Source »

Most excesses do not display the exaggerator's art in it's best light: they are merely blurbs and rodomontade. In more complex usage, exaggeration does dynamic and suggestive work: it can be used to frighten or threaten , to reassure(oneself or others),to glorify and debunk, and, above all, to relieve the tedium of life to entertain. Exaggeration is one of the methods of all myth-from Olympian deities to giants like Paul Bunyan and John Henry, to mythic historical figures- Mao, say, or George Patton. A child exaggerates his parents' powers to the point...

Author: /time Magazine | Title: Essay: A World of Exaggeration! | 12/14/1981 | See Source »

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