Word: touche
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Dates: during 1980-1989
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Waldorf has tried to stay in touch with SouthAfrica by continuing research on various topics,some for the nationalism tutorial. He has alsowritten three articles for the NewRepublic, two of which have already beenpublished and one of which should appear in thenext week...
...affair has quickly become known as Wall Street's Watergate. That hardly seems an exaggerated description for the drama of financial power and corruption that was exploding on both coasts of the U.S. last week. An enormous scandal was spreading at the core of America's investment community, touching some of the biggest moneymen in the country. A civil and criminal investigation was peeling back layer after layer of evidence in a bid to uncover the full pattern of illegalities that had come to light in the $2.5 trillion U.S. stock market. There was even that ultimate Watergate touch...
...across the U.S., investors were raging at the discovery that Wall Street high rollers had been ripping off millions of dollars by trading on knowledge not available to the general public. That sweeping form of sophisticated fraud did not merely touch the pocketbooks of professional stock-market players. The illicit profits came from taking unfair advantage of price movements in a broad range of stocks. That meant, in the end, that the speculators had pilfered from funds that countless thousands of ordinary investors had contributed to the market, in the form of their own stock purchases or investments in pension...
...decades the term junk bonds referred primarily to the downgraded securities of companies that had run into financial trouble. Standard & Poor's, the investment-research firm, classifies junk bonds as those rating lower than BBB on a scale of AAA to D. Few prudent investors wanted to touch such securities until the 1970s, when a young Drexel investment banker named Michael Milken began touting them as a good deal. He contended that their high yields, typically 3% to 5% above those of U.S. Treasury bonds, were extremely attractive, since junk bonds had historically gone into default only slightly oftener than...
...appeared to squelch one of Reagan's last chances to salvage something from the wreckage of his secret initiative to Tehran. Though Reagan announced at his news conference that there would be no more arms deliveries, he expressed a rather wan hope that the U.S. could stay in sympathetic touch with so-called moderates in Khomeini's government. That, the 86-year-old Ayatullah quickly & made clear, would happen only over his dead body. Speaking with his old-time pungency, Khomeini implied that those Iranians who had been dealing with the "Black House" were "Satan-oriented," and cried...