Word: turmoil
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Dates: during 1980-1989
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...inevitable end of a protracted financial adventure." That was how State Controller Yitzhak Tunik, the government ombudsman, described Israel's bank- stock crash in a harsh report released last week. Tunik's 107-page document concerned the financial turmoil of October 1983, when investors sold off shares of Israel's major banks, forcing the government to shut down the Tel Aviv stock exchange for two weeks. By the time trading resumed, bank stocks had lost a third of their dollar value, and the government had pledged to buy the shares at precrash prices to keep investors from taking a beating...
...during the dispute, said, "Praise the Lord, it's over." But it is not. The activists plan new protests, defiance of the courts and, says one, "tougher" tactics. Ondich will also need a new place to worship. Bishop May has shut down Trinity "for an indefinite period" until the turmoil is over...
...that works, and the only one of the six whose vibrations resonate after the last page is turned. A boy sees his mother making love with his tutor. The child cannot prevent himself from telling the dreadful secret to his father. The narrator, who was the boy, relates his turmoil in a way that seems resigned and detached, and then adds two sentences that haunt the mind with the littleness of private tragedy: "This was in Galicia in the year 1910. All of it was to be destroyed anyway, even without...
...doctrine of using conventional military force, the Defense Secretary now seems to have staked out the more temperate position. "Employing our forces almost indiscriminately and as a regular part of our diplomatic efforts," Weinberger declared, "would surely plunge us headlong into the sort of domestic turmoil we experienced during the Viet Nam War . . . The President will not allow our military forces to creep-or be drawn gradually-into a combat role in Central America or any other place in the world . . . Clearly, there are . . . situations where U.S. combat forces should not be used, [and] I have developed six major tests...
Periods of turmoil are familiar in the history of banking. The big three banks of 14th century Florence, the Bardi, Peruzzi and Acciaiuoli, wielded great power until they failed after Edward III of England and King Robert of Naples defaulted on their debts. The fall of Austria's Creditanstalt in 1931 led to financial panic around the world and made the Great Depression worse. America...