Word: wealth
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...Signet has merit-based selection, not one based on distinction or wealth," says Epps, the Harvard administrator charged with overseeing official student organizations...
That is a heavy burden for even so rich a country as Saudi Arabia, especially since its great wealth has begun to shrink. From a peak of $113 billion in 1981, Saudi oil earnings dropped to $28 billion last year. Uncertainty over petroleum prices and revenues prompted Fahd last month to take the unprecedented step of postponing approval of the country's new budget until summer. To the Saudis, accustomed to decision making by royal decree, the delay was a sign of indecision and uncertainty at the country's highest political level...
Many Saudis view the end of the oil boom as a return to quieter and perhaps even better times. The sudden great wealth created social tensions that should be relieved in a less affluent period. "Those times before were not normal," says one Saudi businessman. "They were not real." A longtime British resident offers a similar perspective: "Patterns of life are traditional here, and the entire fabric still fits very well together. The system has been in place for 200 years, and people feel very comfortable with their government and their religion. What alternative has been offered?" Yet that...
...Philippines "good government" commission has a basic strategy for trying to retrieve Marcos' wealth in the U.S.: get American courts to freeze the disputed assets, then adjudicate ownership in the Philippines to prove that they were improperly acquired. The judgments of the Philippine courts would then be presented to American courts, which would be asked to order the transfer of the property to the Philippine government. "It's traditional legal practice for foreign judgments to be given effect in this country," contends Severina Rivera, a Washington-based attorney for the commission...
Whatever the outcome, the Marcos legal miasma may become the lead case in an emerging area of jurisprudence that might be called deposed-dictator law. Many of the same problems arose in the effort by Iran to regain the wealth of the exiled Shah, but the hostage seizure abruptly ended any American interest in recognizing Iranian claims. As for the Haitian government's effort to recover an estimated $400 million to $800 million in the overseas assets of ex-Dictator Jean-Claude Duvalier, the Reagan Administration two weeks ago promised its cooperation. But that legal effort has been moving slowly...