Word: weaponed
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Dates: during 1960-1969
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...came one suppertime as their three guards, carbines carelessly stacked against a tree, were digging into their rice bowls. Dodson yelled and leaped for the guns, came up with one while the startled Reds vanished into the bush. "I think the yell scared the V.C. more than the weapon," recalls an admiring Eckes...
...Board seemed to feel the same way. Calling the Reserve Board's action "minimal," he demanded among other things that action be taken to "reduce the widespread availability of certificates of deposit." With that, the HLBB handed S & Ls more power to fight back. Abandoning its only restraining weapon over S & L interest rates, the board suspended a policy cutting off S & Ls paying more than 4½% in most states (and 5% in California and Nevada) on passbook accounts from borrowing privileges at the twelve Federal Home Loan Banks. "We were simply fighting windmills," explained Home. "Rather than...
Behind all the squabbling stands the awkward fact that a rapid rise in interest rates-the classic but imperfect monetary weapon against inflation-hurts some segments of the economy (such as savings institutions and housing) but leaves others (such as banks and industry) relatively unscathed. Partly for this reason, there are limits to how much credit can be tightened without so dislocating the economy as to threaten a recession. If Washington reduced its massive domestic spending on top of the cost of Viet Nam, banks and the Federal Reserve could pursue a gentler course...
...first round in 1955 when, at his suggestion, a special House subcommittee on Government information was created-with Moss as chairman. The subcommittee quietly launched an exhaustive investigation that yielded countless case histories of secretive bureaucracy. The subcommittee discovered, for instance, that a bow-and-arrow weapon devised by a Pentagon civilian employee during World War II had proved useless-but by 1958 was still classed as a military secret. Moss forced many agencies to discard meaningless security precautions and marshaled bipartisan support for revision of the 1946 law that permits federal officials to clam up merely by decreeing that...
Contending that they could not expect fair treatment in Mississippi, the 29 had petitioned for removal of their cases to federal jurisdiction. The court, which has long since demonstrated its sympathy for the civil rights movement, was well aware that such removal has become an important civil rights weapon. More than a thousand similar cases have been removed from local Southern courts to the presumably fairer federal benches. Nonetheless, said Justice Potter Stewart for the majority, until Congress changes the situation, "no federal law confers an absolute right on private citizens-on civil rights advocates, on Negroes, or on anybody...