Word: turmoil
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Dates: during 1980-1989
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...good come from this turmoil...
...decide how last week's market turmoil will affect the U.S. economy, and indeed that of the entire world, he is Alan Greenspan, 61. As chairman of the Federal Reserve Board, the soft-spoken economic forecaster is the ultimate arbiter of the nation's credit supply and thus of the interest rates at which money is lent throughout the U.S. banking system. On the job less than three months, Greenspan is suddenly being forced to make rapid and delicate decisions to prevent the market crash from turning into a mushrooming financial collapse and to stave off a steep recession. Says...
Amid Columbia's turmoil, Harvard had its own scholars-and-dollars flap last week. In a new book, The Empire Builders: Power, Money & Ethics Inside the Harvard Business School (Morrow; $19.95), Author J. Paul Mark, an ex-Harvard researcher, accuses many B-school profs of stealing ideas from students and using them to get consulting fees and corporate directorships. Dean John McArthur censures the book for "hundreds of factual errors and fabricated events." Typical of the screaming wounded: Professor Michael Porter, who claims Mark never talked with him before writing a tale of alleged pirating of student concepts...
...process is called a "correction," which makes it sound like a painless, orderly affair. But last week's bloodbath on Wall Street was more aptly dubbed an "October massacre." Turmoil and outright fear shook the financial markets as stampeding hordes of investors got caught up in a mood that had been almost absent during the go-go 1980s: bearishness. Over the course of less than two months, in the worst setback since the bull market began five years ago, the value of U.S. stocks has plunged by nearly half a trillion dollars...
...Turmoil in federal AIDS policymaking is anything but new, according to Shilts. His book quotes extensively from internal memos at CDC and the Department of Health and Human Services to show that the very officials who testified before Congress that research scientists had all the money they needed to pursue the disease were privately arguing just the opposite. He quotes a May 13, 1983, note from Assistant Secretary for Health Edward Brandt seeking new funds. "It has now reached the point," the memo reads, "where important AIDS work cannot be undertaken because of the lack of available resources . . . ((which)) will...