Word: weekes
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Dates: during 1970-1979
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...exhibitions by American artists that underline the demise by recalling portraiture's vanished glories and suggesting its dubious status today. One is a retrospective of John Singer Sargent at the Detroit Institute of Arts. The other is a review of Andy Warhol's portraits, which opened last week at the Whitney Museum in New York City...
Even if Tehran finally does not default on its debts, the danger is that European and Japanese banks might call in their loans to Iran. The possibility became more acute last week. That was because of an action by an eleven-member international financing syndicate headed by the Chase Manhattan Bank. The syndicate voted to declare a $500 million loan to Iran in default for failure by Tehran to pay some $4 million in interest charges. The Iranian central bank retorted that it had instructed the Chase to transfer the needed funds from an Iranian account in New York...
Chase responded that the Iranian statement was not correct. It and the six other U.S. banks in the syndicate voted, over the protest of the four non-U.S. banks involved, to declare the default. The U.S. banks could use the Iranian assets frozen a week earlier to offset their own $300 million share of the loan, but the non-U.S. banks (two Swiss, one British and one Canadian) had no such recourse. Their only options were either to activate a so-called cross default clause and foreclose on the Iranian government in court for the remaining $200 million...
...Commission this year has resembled a West Waterford fox hunt, where packs of baying Irish hounds chase the hapless beast to ground. In both the House and Senate, committees have voted to reduce drastically the commission's powers. After the Senate Commerce Committee voted 15 to 0 last week to restrict the agency's authority and require it to submit to semiannual review, Missouri Republican John Danforth said: "If this doesn't stop them, I don't know what will...
...determined to yank some of the FTC's teeth. The House Commerce Committee voted to give Congress a veto power over all commission regulations. This would be the first time that any federal regulator had been so controlled. By a lopsided 223 to 147 vote, the House two weeks ago recommended canceling commission plans to force undertakers to disclose their prices fully and in advance. Representative Bill Frenzel of Minnesota suggested that every FTC staff member and all five commissioners "should spend 20 years at hard labor filling in their own asinine forms." The Senate Commerce Committee voted last...